Royal Bank of Scotland (RBS) today sold Angel Trains for £3.6bn to Babcock & Brown, the Australian investment group, The Times reports.
Babcock said that one of its unlisted funds had acquired the British rolling-stock leasing company – the biggest in Europe - in a consortium with Deutsche Bank, AMP Capital Investors and funds advised by France's Access Capital Partners. The long-awaited sale of Angel Trains, which fetched slightly more than analysts had expected, will help to relieve some of the pressure on RBS, which raised £12bn this week after leading a £47bn takeover of ABN Amro, the Dutch investment bank. RBS said the deal is expected to complete before the end of this year. BARCLAYS IS ON the verge of re-fil...
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