CVC linked to £4bn RBSI bid

The private equity investor is thought to have offered £4bn for the insurance arm of British Royal Bank of Scotland, which is majority owned by the UK government.

RBS Insurance consists of the Churchill and Direct Line brands, and RBS has previously stated it would seek to offload the unit via a flotation.

RBS had tried to sell the firm in 2008, and had entered talks with private equity players over the sale but eventually rejected an offer from CVC and Swiss Re to buy RBSI, cancelling the sale a year later.

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• Topics
• UK / Ireland
• Buyouts
• Financials
• United Kingdom
• CVC Capital Partners
• Royal Bank of Scotland