CYBG Confirms Talks With RBS On Possible Acquisition Of Williams And Glyn

(RTTNews) - In response to recent press speculation, CYBG PLC confirmed that it has engaged in discussions with Royal Bank of Scotland Group PLC (RBS, RBS.L) and has made a preliminary non-binding proposal to RBS in relation to its Williams and Glyn operations.

CYBG noted that the engagement is ongoing and there can be no certainty that any transaction will occur, nor as to the terms on which any transaction might be concluded.

The company added that a transaction will only be pursued if it is determined by its board of directors to be in the best interests of CYBG shareholders.

"Whilst the Board of CYBG recognises it has a duty to continually evaluate all potential opportunities to enhance its business, it will only evaluate combinations that are in line with the Company's strategic objectives," CYBG said.

In a separate statement, CYBG said that Paul Coby and Fiona MacLeod will be appointed as members of the Board's Risk Committee with effect from 30 December 2016. Fiona MacLeod will also be appointed a member of the Board's Governance and Nomination Committee with effect from 30 December 2016.

Paul and Fiona joined CYBG in June 2016 and September 2016, respectively.