Bloomberg reported, citing two people familiar with the talks, a consortium led by Macquarie Group is no longer bidding for Royal Bank of Scotland Group’s aircraft leasing division after its offer was deemed too low.

Bloomberg said, according to the people, that RBS has received offers from a unit of Sumitomo Mitsui Financial Group, China Development Bank and Wells Fargo.

RBS is seeking to sell its RBS Aviation Capital unit for between $7 billion and $8 billion, Bloomberg notes.

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