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City investors to float £1.5bn vehicle to snap up RBS branches
on Aug 01, 2013 at 07:52
The group is hoping to float a £1.5 billion vehicle to buy 316 RBS 'rainbow' branches before they have found out if they have won an auction for them.
Other backers include F&C and the Pears Family - well-known property billionaires - The Telegraph has reported.
The vehicle will be called W&G Investments, and comes as pressure mounts for RBS to appoint Ross McEwan, its UK retail operations head, as its former chief Stephen Hester's replacement.
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