Banco Santander, S.A. (CATS:SAN) is reportedly seeking to list its US automotive finance unit. The initial public offering could value the unit between $7 billion to $9 billion, people familiar with the matter said. Banco Santander owns about 65%, Tom Dundon, founder of Banco Santander, owns roughly 11% and Centerbridge Partners, L.P., Kohlberg Kravis Roberts & Co. (NYSE:KKR) and Warburg Pincus LLC own the remaining shares in the automotive finance unit. JPMorgan Chase & Co., Deutsche Bank AG, Bank of America Corporation and Kohlberg Kravis Roberts & Co. could be the potential underwriters for the deal, said people familiar with the matter.

John Tiner, Chief Executive of Financial Services Authority is the front runner in a bid to acquire 316 branches from The Royal Bank of Scotland Group plc (RBS). Tiner is leading a consortium of investors, including Standard Life plc, RIT Capital Partners plc, Centerbridge Partners, L.P. and Corsair Capital LLC to bid for RBS's branches. According to people close to the matter, the consortium is planning to invest more than £500 million in the deal ahead of a float. One person familiar with the plan said, "The intention is to work with RBS to achieve a successful initial public offering." According to people familiar with the matter, Tiner’s initiative will be head-to-head with another consortium of investors, including F&C Asset Management plc, Invesco Perpetual and Schroders plc, led by Andrew Higginson. The plan would also involve a pre-IPO investment. RBS has a formal deadline from the European Union to complete the sale of its branches by the end of 2013.

The Royal Bank of Scotland Group plc is likely to receive up to six bid proposals for its 315 branches which have a deadline of March 21, 2013, sources familiar with the sale process said. J.C. Flowers & Co. LLC and Virgin Money Ltd. have been seen as front runners to acquire the branches, sources said. AnaCap Financial Partners LLP is also reported to be interested in the branches and Nationwide Building Society had initially expressed an interest but not going forward with it. Also, Banco Santander, S.A. had agreed to pay a premium to the book value of £1.3 billion for the branches. Corsair Capital LLC along with Centerbridge Partners, L.P. and led by Mervyn Davies are also interested in the 315 UK branches. RBS is asking interested parties to come forward with bid proposals although according to Stephen Hester, Chief Executive Officer of RBS, a stock market flotation is also an option. UBS is advising RBS on the sale. RBS and UBS declined to comment to Reuters.