The Royal Bank of Scotland PLC announced that they are seeking a buyer for a unit that manages and maintains 11 schools in the Victoria state of Australia. The sale is estimated at AUD225 million or US$234 million. The information regarding the sale has been sent to the potential buyers. The deal is targeted to conclude by the end of this year. The U.K. Treasury appointed Rothschild as adviser for the potential break-up of RBS. The Axiom Education Victoria collects a quarterly fee from Australia's state government to manage and maintain the schools. The contract is due to last for another 23 years.

Rothschild is currently handling arrangements for the sale of Axiom Education Victoria. Axiom was founded in 2008, and was set up as a public-private partnership to build the schools within Melbourne. RBS will sell its assets globally as it focuses on its core U.K. lending business. Assets like the Axiom Education Victoria will be retained by RBS if a deal isn't made by end of this year.