RBS finally checks out of The Priory

Wednesday 19 January 2011 01:00 GMT

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Royal Bank of Scotland is finally selling the care specialist Priory Group in a deal worth up to £925m.

The buyer is Advent, a private equity house, which owns more than 30 healthcare companies worldwide. RBS acquired the business following its disastrous takeover of ABN Amro, the Dutch bank.

It had originally planned to float the firm, which has 50 sites. RBS will receive up to £133m after debt on the business has been paid off.

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RBS finally checks out of The Priory

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