Royal Bank of Scotland’s stake in Sempra Commodities may go to a bank from the emerging markets, a senior commodities analyst has told Futures and Options Intelligence.
The London-based banker suggested that Russian and Chinese banks would be “at the centre of the action” in the event of a sale, “[as] that’s where the growth will be coming from. There would be plenty interested, I’m sure.”
The stake cost the struggling bank $1.7bn in 2008, when it formed a joint venture with San Diego’s Sempra Energy. The divestiture is part of a coordinated sell-off of RBS’s assets, after EU competition commissioner Neelie Kroes reviewed its bailout by the British government...