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NatWest nears £2.5B–3B deal to buy Evelyn Partners, boosting its private banking.
NatWest Group is reportedly close to acquiring UK wealth manager Evelyn Partners in a deal valued at £2.5 billion to £3 billion, according to sources.
The potential purchase, which could be announced soon, would mark NatWest’s largest deal since the 2008 bailout and aims to strengthen its private banking arm, particularly through its Coutts division.
The acquisition, believed to have been won over competitors including Barclays, is being managed by Evercore.
Evelyn, which manages nearly £65 billion in assets, was formed by a 2020 merger under private equity owners Permira and Warburg Pincus, who recently sold a related business to Apax Partners.
No official confirmation has been issued by any party involved.
NatWest se acerca a un acuerdo de £2.5B3B para comprar Evelyn Partners, impulsando su banca privada.