first_imgMonday 30 August 2010 9:20 pm Share More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp KCS-content Tags: NULL Show Comments ▼ RBS sounds out investment banks for Direct Line disposal whatsapp STATE-OWNED Royal Bank of Scotland has begun sounding out advisers for the multi-billion pound disposal of its Direct Line business.RBS, 83 per cent backed by the taxpayer, has until the end of 2012 to offload the car and home insurance operation under European Union rules on accepting government aid. Sources said the Scottish lender held a first-round “beauty parade” of investment banks last week as floating or selling a company of Direct Line’s size will require around 18 months’ groundwork.RBS would prefer to hold an initial public offering (IPO) of the unit but will consider a trade deal at the right price. US investment sage Warren Buffett is thought to have flagged an interest in bidding for Direct Line through his Berkshire Hathaway vehicle, as is American insurer Allstate.The process is complicated by the fact Direct Line plunged from a first-half profit of £217m to a loss of £231m, as the rise of no-win, no-fee law firms prompted a surge in road traffic accident claims. The deficit will make an IPO less attractive.Industry insiders said RBS was likely to get a price tag well below the £6bn valuation put on the business by former boss Sir Fred Goodwin. The final price is also likely to be below the £4.5bn offered by CVC in 2008. last_img read more