Sale of Remainder of Citizens Financial Group Inc. Stake
The Royal Bank of Scotland Group plc today announces it has sold all of its remaining shareholding in Citizens Financial Group Inc. in an underwritten public follow-on offering.
30 October 2015
The Offering is approximately 110 million shares of Citizens’ common stock, equivalent to 20.9% of CFG’s issued and outstanding common stock.
Following completion of the Offering, RBS will have fully divested its stake in Citizens and will therefore no longer consolidate CFG for regulatory reporting purposes. RBS expects its designee to resign from CFG’s board of directors effective upon the completion of the Offering.
Goldman, Sachs & Co., Bank of America Merrill Lynch, Citigroup and JP Morgan are acting as joint underwriters for the Offering.
Posted In
Related articles
Further to the announcement by The Royal Bank of Scotland Group plc ("RBSG") on 28 July 2015, RBSG today announces the final pricing of the offering of shares in Citizens Financial Group, Inc. ("CFG" or “Citizens”) (“the Offering”).
Further to the announcement by The Royal Bank of Scotland Group plc ("RBSG") on the 23rd March 2015, RBSG today announces the final pricing of the offering of shares in Citizens Financial Group, Inc. ("CFG" or “Citizens”) (“the Offer”).
Latest news
The event explored today’s ‘always on’ world and the pressure Scots face as they struggle to balance life inside and outside of work.
Primary school children in Currie, Edinburgh put on their detective hats last week to learn more about fraud and scams thanks to the Royal Bank of Scotland MoneySense programme. Les Matheson, CEO of Personal Banking, tells us why it’s so important to financially educate young people.
New card features are being rolled out from today with all cards having a notch and raised dots.