Bloomberg reported Royal Bank of Scotland Group Plc, has four bidders for its aircraft leasing division, including China Development Bank Corp. The auction is moving into its final round in December, people familiar with the process said.
A consortium led by Macquarie Group as well as Sumitomo Mitsui Financial Group and Wells Fargo are also bidding per the report. RBS, based in Edinburgh, is seeking to sell the unit for between $7 billion and $8 billion, one person said.
RBS has sold more than $180 billion of assets since 2009 after receiving a government bailout the year before. According to Bloomberg, if RBS succeeds in selling the aviation unit for $8 billion, the disposal would be the lender’s largest since the 2008 financial crisis.