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Royal Bank owner in Irish asset sale


NatWest Group chief executive Alison Rose Dominic Lipinski/PA Wire
ROYAL Bank of Scotland owner NatWest Group has agreed a deal to sell more assets in the Republic of Ireland under the plan to withdraw its Ulster Bank operation from the country.
The group announced that it has entered a non-binding memorandum of understanding with Permanent TSB covering a multi-billion euro loan book and 25 branch locations.
It did not disclose the expected value of the deal but said the consideration is expected to include a stake in Permanent TSB.
Chief executive Alison Rose said the announcement represented a significant update in line with the group’s strategy of making a phased withdrawal from the Republic of Ireland. ....

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