RBS To Sell $2.1B Loan Portfolio

Blackstone is set to buy a 1.36 billion pound ($2.1 billion) property loan portfolio from the Royal Bank of Scotland, Reuters reported Tuesday. The loans will be put into a jointly owned vehicle in which the state-owned bank will hold a 75% equity stake that it will sell down by the end of 2013, Reuters wrote. Blackstone, backed by China Investment Corporation, will take a 25% equity share and manage the properties.

DealsNorth AmericaUSBriefs