Royal Bank of Scotland
has received first-round bids for its asset management business, which oversees 30 billion British pounds ($49.8 billion), and several US mutual fund firms are reportedly involved in the bidding. The Times
in London reported
that Morgan Stanley
is advising RBS on the sale, and the Times estimates that RBS's asset management unit is worth between 250 million to 300 million pounds.
According to the Times, BlackRock
, Neuberger Berman
and Aberdeen Asset Management
, which recently acquired Nationwide Funds
, have all submitted offers. So have Schroders and Henderson.
could not immediately reach spokespeople for Aberdeen, BlackRock and Neuberger for comment.
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