UK - RBS to sell train leasing business

Royal Bank of Scotland has hired Lazard to consider options for Angel Trains, the train leasing business it acquired in 1997 for £408m. The news comes at a time when train leasing companies are being investigated by the Competition Commission. Should RBS decide to dispose of the business, the sale will attract interest from a number of infrastructure groups including Babcock & Brown, Prudential and Goldman Sachs. It is thought Angel could fetch up to £4bn at auction.