RBS offloads its stake in rehab clinic owner Priory

first_imgTuesday 18 January 2011 7:55 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Tags: NULL whatsapp Royal Bank of Scotland (RBS) will finally part company with the Priory Group, the care homes operator famous for its celebrity clientele.The 84 per cent state-owned bank will sell the firm to buyout company Advent International in a deal worth up to £925m.However, RBS will only receive around £133m in cash for its stake in the group after the settlement of debt.RBS had been in talks with several private equity and buyout firms over much of last year, and the sale marks a further step in the bank’s plans to sell non-core assets and shore up its balance sheet.Advent International beat out competition from the likes of Bain Capital, Blackstone and Cinven to win the Priory Group auction.RBS said the Priory Group sale carried an enterprise value of up to £925m. whatsapp Show Comments ▼ RBS offloads its stake in rehab clinic owner Priory KCS-content Sharelast_img