Bloomberg reported Royal Bank of Scotland Group received the highest bid for its aircraft-leasing division from China Development Bank Corp., according to a person with knowledge of the process.

According to the report, China Development Bank is leading the race to acquire the asset, according to a person who declined to be identified because the discussions aren’t public. Sumitomo Mitsui Financial Group and Wells Fargo also submitted offers, according to people familiar with the sale.
 
As reported, a sale of the unit for $8 billion, which is the top end of its price expectation, it result in RBS’s largest disposal since the 2008 financial crisis.  The agreement on the sale of the aircraft-leasing unit is not yet finalized.