Printer Friendly

NatWest in pounds 52m sell-off.

NatWest has completed the disposal of the unwanted parts of its investment banking business.

The group yesterday sold most of its investment banking operations in Australian and New Zealand to rival Salomon Smith Barney for pounds 52 million.

Salomon picks up County NatWest Australia's equities and corporate finance divisions and part of its financial markets division.

The businesses being sold employ 400, with the deal expected to be completed next month.

County NatWest Australian's investment management business was sold to National Australia Bank last October.
COPYRIGHT 1998 Birmingham Post & Mail Ltd
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Birmingham Post (England)
Date:Feb 10, 1998
Previous Article:Energy Group shares lose power as rival bidders hang back from contest.
Next Article:Factory gate prices lowest for 12 years.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters