Tuesday, 27 March 2012

Abu Dhabi Royals Involved in RBS Talks: Sources

REUTERS.COM: Talks to sell a stake in Britain's state-owned Royal Bank of Scotland (RBS.L) are being held at the level of the Abu Dhabi ruling family, sources told Reuters on Tuesday.

A source familiar with the matter said Amanda Staveley, a businesswoman notable for her Middle Eastern connections, was advising the emirate's rulers.

"The talks have been going on for six months, and nothing is likely to materialize for the next few months," the source said, adding that Abu Dhabi could end up with a stake of more than a third, though it has not decided which of its entities would hold the stake.

Staveley played a prominent role in Abu Dhabi royal Sheikh Mansour bin Zayed al-Nahayan's 2008 investment in another British bank, Barclays (BARC.L).

A senior banker told Reuters that the oil-rich emirate's sovereign wealth funds were not involved in talks at this stage.

"It's happening higher up," the banker said, adding that a deal could fall apart on price grounds. Two other banking sources also said that a deal, if it happened, would be struck at a government-to-government level.

"Abu Dhabi is always talking to parties to invest, including RBS. Whether it will materialize or not is too early to say," a source close to the royal family said on condition of anonymity. » | Stanley Carvalho and Mirna Sleiman | ABU DHABI/DUBAI | Tuesday, Mar 27, 2012

About Amanda Staveley, the deal-making queen:

LONDON SPECTATOR: Dealmaking Queen Amanda Staveley Marries Her Prince » | Tuesday, March 27, 2012

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