Royal Bank of Scotland set April deadline for purchase of assets

Royal Bank of Scotland (LON:RBS) who is largely owed by the British government has set a date for early April, for potential buyers for over 300 of their branches and their payment processing arm.

The British tax payer had to bail RBS out during the financial crisis was ordered by the EU antitrust regulators to sell assets to compensate for the billions of pounds they received in a bail out to keep the bank afloat. Suitors received details of the bank branches and their payment processing arm.

It is believed that over 40 bidders have been showing an interest in processing unit better known as WorldPay. It is believed that the WorldPay deal could be worth between 1.5 billion and 3 billion pounds, bidders such as Apax Partners and Advent International are showing a keen interest.

Although RBS said there were a lot of interested suitors looking at WorldPay, the interest in bank branches was not as popular. To read more on this story go to reuters.com.