Lone Star Said to Consider Bid for Natwest’s Irish Unit
- Natwest reviewing Ulster Bank, with decision expected soon
- Lone Star already owns banks in Germany and Portugal
A branch of Ulster Bank in Belfast.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Billionaire John Grayken’s Lone Star is among private equity firms lining up for all or parts of NatWest Group Plc’s Irish retail unit Ulster Bank, according to people familiar with the matter.
Lone Star, which owns Germany’s IKB Deutsche Industriebank AG, and Portugal’s Novo Banco SA, is working with advisers to study a bid for the assets, according to the people, who asked not to be identified as the information is private. Ulster controls a loan book of about 21 billion euros ($25.3 billion).