Advent 'close' to deal for Priory

Advent International is set to take the Priory Group off RBS's hands in a deal worth up to £1 billion, reports suggest.

By The Newsroom

Published 7th Jan 2011, 21:22 BST

Updated 9th Jan 2011, 21:58 BST

The private equity firm has been in discussions with RBS about the sale since the bank's negotiations with Bain Capital collapsed in December. A final bid could be tabled today, with the deal tied up in the next two weeks.

RBS inherited Priory in the 2007 takeover of ABN Amro, which paid 875 million for the care homes group in 2005.