RBS Completes Sale of RBS Sem

RNS Number : 7120O

Royal Bank of Scotland Group PLC

02 July 2010

 

RBS COMPLETES SALE OF RBS SEMPRA COMMODITIES METALS, OIL AND EUROPEAN ENERGY BUSINESSES TO J.P. MORGAN

The Royal Bank of Scotland Group plc (RBS) has completed the previously announced sale by RBS Sempra Commodities (RBSSC) of its Metals, Oil and European Energy business lines to J.P. Morgan. These activities were acquired by J.P. Morgan for a total cash consideration of USD1.6 billion, post interim distributions of which RBS's share is approximately 47%.

Along with JV partner, Sempra Energy, an active sales process is underway for RBSSC's remaining North American Power and Gas, and Sempra Energy Solutions business lines. Clients of these businesses continue to be fully supported by RBSSC.

For media enquiries:

Piers Townsend [phone]

For Investor Relations enquiries please contact:

Richard O'Connor + 44 (0) 207 672 1758

Alexander Holcroft [phone]

 

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