Reuters reported that according to two sources, Royal Bank of Scotland is examining a final set of bids for its RBS Aviation Capital aircraft leasing business and hopes to select a preferred bidder early next year.

According to Reuters’ sources, a consortium led by China Development Bank, Wells Fargo, Sumitomo Mitsui Financial Group and a Macquarie are reportedly in the running for the business. RBS announced the sale earlier this year as part of a broader strategy to divest non-core assets.
 
RBS has been under pressure to sell businesses after being ordered by regulators to divest assets and trim its balance sheet as payback for being bailed out by the British government during the 2008 credit crisis. Britain now owns approximately 83% of Royal Bank of Scotland.

Goldman Sachs is advising the company on the sale of RBS Aviation Capital.  It’s estimated the aviation business could bring in as much as $8 billion.  RBS’ operating lease aircraft portfolio is currently valued at over $8 billion.