RBS kicks off £1bn Priory sale

Royal Bank of Scotland has started the sale of the Priory Group, the mental-health specialist which it hopes could fetch about £1bn. RBS, which is being advised by Rothschild, has given bidders until mid-September to submit indicative offers. RBS abandoned plans to list Priory earlier this year. Advent International, Bain Capital, Blackstone Group, Carlyle Group, Cinven and KKR are thought to be preparing bids.