UK-based Royal Bank of Scotland (RBS) is set to announce the £3.5bn sale of rolling stock leasing company Angel Trains, including a £10bn-plus rights issue, writes UK newspaper The Times.
RBS board members and the bankers advising them were in talks yesterday to finalise the bank's fund-raising plans, expected to be approved by a full board meeting today.
It is believed that Angel Trains has been sold to a consortium led by the investment firm Babcock & Brown and backed by Deutsche Bank, writes the newspaper.
In February this year, Angel Trains announced the start of a new wagon leasing business to run alongside its passenger train and freight locomotive leasing businesses in both the UK and mainland Europe.
By staff writer
