LONDON: State-rescued lender Royal Bank of Scotland said Friday it had agreed to sell assets to Aberdeen Asset Management for almost 85 million pounds (95 million euros, 135 million dollars).

'The Royal Bank of Scotland Group plc has entered into a sale agreement with Aberdeen Asset Management PLC for the sale of certain fund management assets and contracts of RBS Asset Management Limited and RBS Asset Management Holdings.'

'The business will be sold for a total consideration of 84.7 million pounds. Subject to regulatory approvals, the divestment is expected to be completed in the first quarter of 2010,' RBS added in a statement.

RBS is 84-percent owned by the state after receiving a massive bailout from the British government amid the devastating global financial crisis.