CDB fails to land RBS aviation unit despite making highest bid
China Development Bank (CDB) made the highest bid for Royal Bank of Scotland’s aviation-leasing unit but lost out on the transaction due to concerns about its ability to close the deal. The asset was sold to Sumitomo Mitsui Financial Group (SMFG) for $7.3 billion earlier in January.
People familiar with the transaction told the Financial Times that state-owned CDB offered to pay $240 million more than SMFG. However, RBS was put off by the risk that Chinese regulators might nix the...
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