CVC Makes $6.5B Offer for RBS Arm

Private equity group CVC Capital Partners has made an offer for the insurance arm of Royal Bank of Scotland for about 4 billion pounds ($6.5 billion), Reuters reported, citing the Mail on Sunday. RBS Insurance, Britain's number one motor insurer trading under the Direct Line and Churchill Brands, is up for sale to appease European regulators after a taxpayer-funded bailout of RBS during the 2008 crisis left it 83 percent state-owned, Reuters wrote.

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