RBS has put Lombard Vehicle
Management up for sale, with GE Capital rumoured to be in
negotiations for the purchase.

The 84% tax payer-owned bank
intends to sell the unit as part of a commitment to reducing the
balance sheet by shedding non-core assets.

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The sale will include car and
van leasing arm Lombard Vehicle Management only and RBS will retain
the remaining Lombard businesses.

A RBS spokesperson said: “RBS
continues to explore options for the future of its Lombard Vehicle
Management business as part of the Strategic Plan announced in 2009
to return RBS to standalone financial strength.

“We will make any further
announcements as and when appropriate.”

Leasing Life
understands talks are underway but are not a stage where a deal is
certain to emerge.GE Capital declined to comment on reports of the
sale.

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