RBS Sells Interest in Euroclear For EUR275 Million

By Maryam CockarFeaturesDow Jones Newswires

The Royal Bank of Scotland Group PLC (RBS.LN) said Tuesday that it has sold its interest in Euroclear PLC (ECR.YY) for 275 million euros ($323.2 million) to Intercontinental Exchange Holdings Inc. (ICE), a U.S. financial-services firm.

The FTSE 100-listed bank said that it sold 148,349 shares in the European clearing house as part of its strategy to reduce its assets and strengthen its capital position.

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The proceeds of the disposal will be used for general corporate purposes, RBS said.

Shares in RBS closed 1.50 pence, or 0.5%, higher at 281 pence.

Write to Maryam Cockar at maryam.cockar@dowjones.com

(END) Dow Jones Newswires

October 24, 2017 13:17 ET (17:17 GMT)