RBS agrees sale of Spanish real estate assets
Royal Bank of Scotland Group PLC - RBS agrees sale of Spanish real estate assets to Perella Weinberg
The Royal Bank of Scotland Group plc
23 March 2011
RBS agrees sale of Spanish real estate assets to Perella Weinberg Real Estate Fund I LP
The Royal Bank of Scotland Group plc ("RBS") announces today that it has sold a portfolio of its commercial real estate loans and assets in Spain to several wholly owned, indirect SPV subsidiaries of Perella Weinberg Real Estate Fund I LP (specifically, Grey Grafton S.A R.L, Violet Grafton S.A R.L. and Orange Grafton S.A R.L.). The portfolio has a par value of €286 million. The proceeds from the transaction are in cash.
The disposal represents a further step in RBS's plan to run off or dispose of the assets within the Non-Core Division. By 31 December 2010, overall funded assets in Non-Core had reduced to £138 bn from the original funded asset base of £258 bn.
RBS was advised on the sale by its Global Banking and Markets division.
Richard O'Connor
Head of Investor Relations
+44 (0) 20 7672 1758
Media Relations
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