(Bloomberg) -- Royal Bank of Scotland Group Plc, the
U.K.'s second-biggest bank, will buy a majority stake in a Sempra
Energy unit for $1.35 billion, creating a joint venture that will
help the bank catch up with peers in commodities trading.
Royal Bank, based in Edinburgh, will provide capital and
credit, freeing up $1 billion at Sempra, the San Diego-based
company said in a statement today. Sempra will buy back as much
as $2 billion of its shares and raise its annual dividend 13
percent to $1.40 a share after closing the sale.
Read more at Bloomberg Energy News
U.K.'s second-biggest bank, will buy a majority stake in a Sempra
Energy unit for $1.35 billion, creating a joint venture that will
help the bank catch up with peers in commodities trading.
Royal Bank, based in Edinburgh, will provide capital and
credit, freeing up $1 billion at Sempra, the San Diego-based
company said in a statement today. Sempra will buy back as much
as $2 billion of its shares and raise its annual dividend 13
percent to $1.40 a share after closing the sale.
Read more at Bloomberg Energy News
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