RBS: Investor relations - Announcements

RBS: Investor relations - Announcements: "RBS and Bank of China are pleased to announce that they have reached agreement to establish an exclusive strategic partnership. Within this partnership:
RBS and Bank of China have agreed to co-operate across a range of business activities, building on Bank of China's distribution strength and RBS's product skills in areas including credit cards, wealth management, corporate banking and personal lines insurance.
In addition, the two banks will establish close co-operation in certain key operational areas, including corporate governance, risk management, financial management, human resources and information technology. RBS will nominate a director to sit on the Board of Bank of China.
RBS will lead an investment of 10% in Bank of China for $3.1 billion (�1.7 billion). Within this, RBS itself will invest $1.6 billion (�0.9 billion). RBS and its co-investors have committed to retain their investment in Bank of China for three years. RBS has no plan to increase its investment in Bank of China.
Appropriate warranties and protections have been received
The transaction is subject to regulatory approvals "