SCH to sell 2.51 percent of shares in Royal Bank of Scotland
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Banco Santander Central Hispano (SCH) said it had instructed Merrill Lynch to place, on its behalf, up to 2.51 percent of Royal Bank of Scotland's (RBoS) equity with institutional investors.
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AMSTERDAM/LONDON  - A consortium led by Royal Bank of Scotland has launched a 71.1 billion euro ($95.6 billion) bid for Dutch group ABN AMRO, trumping Britain's Barclays in a battle for the world's biggest bank takeover.
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HSBC Holdings, Europeâs biggest bank, agreed to buy a 51 percent stake in Korea Exchange Bank for $6.3 billion as it attempts to bolster its presence in the fast-growing Asian market. The purchase of the stake from the United States private equity group Lone Star Funds would allow Lone Star, based in Dallas, to exit a controversial investment. HSBC, based in London, said that it did not intend to make an offer for the remainder of the Korean bankâs shares and that the bank would remain listed on the Korea Exchange. The acquisition would catapult HSBC past its foreign rivals Standard Chartered and Citigroup. Both have bested HSBC in the past in purchasing local banks during the post-Asian crisis turmoil. A local court in South Korea has been investigating allegations that Lone Star manipulated the stock price of the Korean bankâs credit card unit in 2003 so that the bank could take it over at a lower price.
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Business & money: 9.30am: Shares in the bank jumped almost 3% after recommendation.
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Spain&#39;s Santander Central Hispano has unwound almost half its 5.5 percent stake in Royal Bank of Scotland as it seeks regulatory approval for its bid for Abbey National.
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Royal Bank of Scotland , the  British bank trying to lead a takeover of Dutch rival ABN AMRO,  said it expects its UK bad debts to fall in the first half of  this year to help it beat forecasts for underlying earnings.
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Financial services company Coyle Hamilton today announced the completion of the sale of 56pc of its shares to the global insurance broker Willis.
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Swiss Life Holding on Friday said it agreed to sell most of its private-equity portfolio, valued at 400 million Swiss francs ($321.2 million), to an affiliate of a U.S. investment firm.
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AMP&#39;S former British arm HHG will return $2.2 billion to long-suffering shareholders after finally striking a deal to sell its life insurance assets for $2.62 billion.
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The bid by the Royal Bank of Scotland Group and two other European banks topped an offer by Barclays.
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Business & money: Royal Bank of Scotland launches new bid for ABN Amro, in an attempt to wrest it away from rival bidder Barclays.
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AMSTERDAM/LONDON  - A consortium led by Royal Bank of Scotland  said on Friday it has formally launched its 71.1 billion euro ($98.2 billion) bid for Dutch bank ABN AMRO  as it attempts to beat rival suitor Barclays  to the biggest-ever bank takeover.
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British-based wealth management and insurance group HHG Plc. is to sell its Life Services business to a venture capital group for 1.025 billion pounds (1.97 billion US dollars).
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HSBC, the UK's largest bank, agrees to buy 51% of Korea Exchange Bank for $6.3bn.
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LONDON/SEOUL  - HSBC  has agreed to buy a 51 percent stake in Korea Exchange Bank (KEB)  from U.S. private equity firm Lone Star for about $6.3 billion in cash to boost its profile in Asia's third-largest banking market.
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Credit Suisse Group, Switzerland's second-largest bank, said Friday it was selling its 19.9 percent stake in the operations of Warburg Pincus back to the U.S. private equity firm.
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Global banking giant HSBC said Monday it had agreed to buy a majority stake in South Korea&#39;s Korea Exchange Bank from US private equity fund Lone Star for about 6.3 billion US dollars (4.6 billion euros) in cash.