RBS To Sell Aircraft Leasing Unit For $7B

Law360, New York (January 17, 2012, 1:48 PM EST) -- The Royal Bank of Scotland Group PLC will sell its aircraft leasing business to a consortium led by Sumitomo Mitsui Financial Group Inc. for about $7.3 billion as the Japanese partners look to harness increasing demand for commercial aircraft, the companies announced Tuesday.

RBS said the transaction involving Dublin-headquartered RBS Aviation Capital would strengthen its capital position and help reduce wholesale funding requirements and support ongoing lending.

"Reaching agreement on a deal of this scale in such a volatile market is a significant success for our...
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