State-rescued lender Royal Bank of Scotland has agreed to sell assets to Aberdeen Asset Management for almost £85m sterling.
'The Royal Bank of Scotland Group has entered into a sale agreement with Aberdeen Asset Management for the sale of certain fund management assets and contracts of RBS Asset Management Limited and RBS Asset Management Holdings,' the bank said in a statement.
'The business will be sold for a total consideration of £84.7m. Subject to regulatory approvals, the divestment is expected to be completed in the first quarter of 2010,' RBS added.
RBS is 84% owned by the state after receiving a massive bailout from the British government amid the devastating global financial crisis.
