Aberdeen set to snap up RBS funds for £85m

ABERDEEN asset management is expected to announce today that it will spend some £85m to acquire around half of the asset management arm of ailing Royal Bank of Scotland.

Aberdeen will buy a £13bn portfolio of funds of funds and hedge funds and is expected to finance the move with a share placing.

Meanwhile, RBS has received three offers worth around $4bn (£2.5bn) for its joint venture with US group Sempra Energy. Deutsche Bank, JPMorgan Chase and Australian bank Macquarie submitted their bids for commodities trading business RBS Sempra before Wednesday’s deadline, a source said.

RBS is being forced by European competition authorities to slim down after accepting state aid in the crisis.