The Royal Bank of Scotland has completed the Ј68 million purchase of Euro Sales Finance. The Bank had already declared the cash offer for the entire issued and to be issued ordinary share capital of Euro Sales Finance unconditional as to acceptances and now the OFT have confirmed that the purchase does not raise any competition issues, the deal has been completed.
Euro Sales Finance was formed in March 1995 and has grown quickly to become a leading provider of invoice discounting and factoring services for small and medium-sized companies. It operates from fifteen offices of which four are in the UK, six in France, four in Germany and one in the Netherlands. It employs 259 people.
