Royal Bank of Scotland, which has historically avoided natural resources trading, is believed to be the frontrunner to buy a stake in a US commodities trading business.

The UK bank is believed to be closing in on a deal to buy a stake in Sempra Commodities, the trading arm of US based Sempra Energy, according to banking sources.

Jonathan Sibun

Royal Bank of Scotland

Sempra Commodities

The CMA vs the government: Inside antitrust’s big battle

BlackRock’s Preqin buy cleared by UK competition watchdog

Revealed: Audit regulator upgrades risk of private equity investment to ‘high’

Trading Places: BNP’s new COO, Clifford Chance poaches from KKR

https://images.fnlondon.com/im-329118?size=1.5

Find out who is on the move in the City and beyond this week

Clifford Chance hires KKR director in London private equity drive

https://images.fnlondon.com/im-81781958?size=1.5

Magic Circle firm boosts London private equity offering

Proskauer Rose hires Hogan Lovells private equity partner in London

https://images.fnlondon.com/im-06153452?size=1.5

The hedge-fund founder is asking triple what he paid for the Bali-inspired Manalapan estate in 2017.

British Billionaire Chris Rokos Wants $150 Million for His Florida Mansion

The announcement comes as USS Investment Management said it won’t bid for the property firm.

KKR Floats $1.97 Billion Non-Binding Offer for London-Listed Assura

KKR Floats $1.97 Billion Non-Binding Offer for London-Listed Property Firm Assura

The U.S. private-equity firm said t decided not to begin a tender offer for the Japanese software company after consulting with Fuji Soft founder Hiroshi Nozawa.

Successful firms are increasingly split between behemoths with several business lines and those focusing on their roots of buying companies.

The New Survival Guide for Private Equity: Go Big or Get Back to Basics

The Chinese technology giant has begun tests to integrate homegrown startup DeepSeek’s AI model into its Weixin messaging app.

Tencent Shares Rise as App Launches DeepSeek Testing

Tencent Shares Hit More Than Three-Year High as App Launches DeepSeek Testing

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

https://www.wsj.com/?type=allesseh_content_full_list

https://www.fnlondon.com/client

MY ACCOUNT

ABOUT

SECTIONS

unbolded

RBS set to fill missing link

Financial News

British Billionaire Chris Rokos Wants $150 Million for His Florida Mansion

KKR Floats $1.97 Billion Non-Binding Offer for London-Listed Assura

Bain Capital Ends Pursuit of Fuji Soft

The New Survival Guide for Private Equity: Go Big or Get Back to Basics

Tencent Shares Rise as App Launches DeepSeek Testing