Bank sells Priory clinics in £925m deal

A chain of private UK rehab clinics best known for helping wean celebrities off their addictions has been sold to private equity in a deal worth up to £925m (€1.1bn), it was announced today.

Part-nationalised Royal Bank of Scotland, which acquired the Priory Group in 2007 when it bought Dutch bank ABN Amro, has agreed to sell the specialist mental and healthcare firm to buyout specialist Advent International.