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RBS shrinks Irish arm with sale of £4.8b property debt
Published Wed, Dec 17, 2014 · 09:50 PM
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London
ROYAL Bank of Scotland (RBS) has sold £4.8 billion (S$9.85 billion) of Irish property loans to US private equity firm Cerberus, shedding a big chunk of problem loans under its plan to shrink its business in Ireland.
Cerberus made a second big bet on Tuesday on a recovery in United Kingdom and Irish property when it also bought a £1.2 billion portfolio of most…
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