UK banking group NatWest is reportedly in the early stages of considering making an offer to take over Tilney Smith & Williamson (TS&W) – which is going to rebrand to Evelyn Partners later this year.
According to Sky News, if the deal is to go ahead, the acquisition would be the biggest one since the banking group was rescued by taxpayers nearly 15 years ago.
The reports follow the news that TS&W private equity backers Warburg Pincus and Permira were looking to exit their investment 18 months after the merger between Tilney and Smith & Williamson.
Warburg Pincus then decided to look at taking full control of the wealth group, just a couple of weeks after the disinvestment rumours.
The potential sale of TS&W is expected to raise between £2.5bn and £3bn ($4bn, €3.6bn), according to Sky News, and it is believed to attract several potential buyers.
NatWest declined to comment on the rumours, whereas TS&W did not reply in time for publication.
