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Report: Sale of RBS's Greek ship finance biz faces Brexit speed bump


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Report: Sale of RBS's Greek ship finance biz faces Brexit speed bump

Buyer interest in RoyalBank of Scotland Group Plc's Greek ship finance business has cooledfollowing the U.K.'s decision to leave the EU, Reuters reported July 11.

Banking and finance sources told the newswire that the vote has madepotential suitors anxious about the deal and has raised questions about whatwould happen with the Greek operation's branch banking license once the U.K.quits the EU.

Reuters reported in June that the bank received from , ChinaMerchants Bank Co. Ltd. and other parties for the business. However,"two separate finance sources" told the newswire that Credit Suissehas lost interest in the deal.

Another source added that capital pressures on Europe's banks areweighing on such portfolio sales as well.

RBS's Greek ship finance business, which includes a banking license and about 40employees, is valued at approximately $3 billion; however, sources have saidproblems facing the shipping industry would affect any deal value, Reutersnoted.