The Secretary of State for Trade and Industry has decided on the information at present before her, and in accordance with the recommendation of the Director General of Fair Trading, not to refer the proposed acquisition of Euro Sales Finance plc by the Royal Bank of Scotland Group under the provisions of the Fair Trading Act of 1973.
It was announced in August 2001 that RBS had agreed terms of a recommended cash offer for ESF, valuing the company at approximately Ј68m. The Royal Bank of Scotland Commercial Services is the Invoice Finance arm of The Royal Bank of Scotland. It offers a comprehensive service to businesses with an annual turnover ranging from Ј50k to Ј10m+. With over 5000 clients, RBS Commercial Services operates in all main industry sectors ranging from manufacturing and distribution through to employment agencies and computer services companies.
