Royal Bank of Scotland has sold its rehab clinic and care specialist unit, Priory Group, for £925 million, Financial Times reports. The buyer, Advent International, is likely to complete the takeover by the end of March.
Advent is looking to finance the purchase of the Priory from a group of investors led by RBS with a high-yield bond issue of about £600 million. The offering will be arranged by RBS and Deutsche Bank, while Credit Suisse will serve as bookrunner.
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