NatWest Said to Near £2.7 Billion Deal to Take Over Evelyn

NatWest Group Plc is closing in on a takeover of wealth management group Evelyn Partners after beating out Barclays Plc in a hotly contested auction, according to people with knowledge of the matter.

NatWest is expected to pay about £2.7 billion ($3.7 billion) and a deal could be announced as soon as Monday, according to the people who asked to remain anonymous as details of the talks are private. Negotiations with Evelyn’s private equity owners Permira and Warburg Pincus are ongoing and could still fall apart, they added.