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Article: S&P Affirms Royal Bank of Scotland Group & Unit Ratings
- Article from:
- PR Newswire
- Article date:
- August 14, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, Aug. 14 /PRNewswire/ -- Standard & Poor's today has affirmed its ratings on Royal Bank of Scotland Group PLC (Royal Bank) and its principal subsidiary Royal Bank of Scotland PLC (see list below).
The rating action follows yesterday's announcement of the agreed acquisition of the business of Birmingham Midshires Building Society. The acquisition, valued at between UK605 million and UK630 million, is subject to due diligence as well as to approval by Birmingham Midshires' members and by a number of regulatory bodies. Completion is expected in the second half of 1998.
Royal Bank of Scotland has also issued 33 million ordinary shares (valued ...