Royal Bank of Scotland is moving fast towards a sale of RBS Sempra Commodities, the commodity trading arm that EU officials have said it must spin off, it emerged this week.
Several leading investment banks are believed to be potential buyers, in a sale process being organised for RBS by Lazard.
One commodities specialist at an investment bank told Futures and Options Intelligence that commodity trading desks were rife with rumour, saying: “It could be Deutsche, it could be Goldman; SocGen have even been mentioned in the same breath.”
Reuters quoted sources citing Deutsche Bank as a key bidder for the firm, suggesting Deutsche was leading a pack of five banks keen on the stake. Any move was likely to value RBS’s 51% stake at $3bn, the report claimed.
Morgan Stanley and Barclays Capital are also thought to be interested, raising the possibility of a bidding war. Spokespeople for...