RBS Said to Seek Buyer for Unit That Manages Australian Schools
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Royal Bank of Scotland Group Plc, the U.K. lender shrinking its balance sheet after a government bailout, is studying the sale of a unit that manages 11 Australian schools, said a person with knowledge of the matter.
RBS is working with Rothschild on the sale and preliminary information has been sent to potential buyers, said the person, asking not to be identified as the details are private. The Axiom Education unit manages the schools in Victoria state and was set up as a public-private partnership worth A$255 million ($234 million) in 2008, according to the unit’s website.