NatWest set to announce sale of equities division
Tuesday 02 December 1997
The equity derivatives portion will go to Deutsche Morgan Grenfell (DMG), part of Germany's Deutsche Bank, while US bank Bankers Trust will buy the larger cash equities division.
Both transactions are expected to be announced simultaneously.
One banking source said DMG would pay between pounds 50m and pounds 100m - "but nearer the lower end of the scale" - for the derivatives business. Previously analysts had expected the business to go for pounds 100m. Bankers Trust is widely expected to pay between pounds 200m and pounds 300m for the cash equities arm.
The combination would amount to more than the asset value of the various components, something which NatWest's high street rival Barclays failed to achieve when it sold part of its BZW equities division recently to Credit Suisse First Boston.
"The trick is getting a price that suits everyone," one investment banker said, adding that media speculation about what NatWest was likely to achieve had already soured negotiations at a critical time. The announcement will end months of uncertainty for NatWest Markets staff and clients.
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 2 Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
- 4 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Gingers face extinction due to climate change, scientists warn
Mick Jagger denies being World Cup curse and reason for Brazil’s embarrassing defeat
Do you know this man? Amnesia sufferer found in park pleads for help in identifying who he is
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...