Deals
Hoare Govett Executives May Team Up With Oriel for RBS Buyout
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Hoare Govett Ltd.’s managing directors are considering teaming up with Oriel Securities Ltd. to buy out the U.K. broker from parent Royal Bank of Scotland Group Plc, two people with knowledge of the talks said.
A deal would allow RBS to save the costs of firing the unit’s 30 or so employees, said the people, who declined to be identified because the talks are private. Edinburgh-based RBS would receive little if anything in cash for the unit, the people said, adding that the process is at an early stage.