Royal Bank of Scotland Group PLC is likely to announce two asset sales worth up to a total of 4.3 billion pounds ($6.7 billion) as early as Tuesday, as it continues efforts to shrink its balance sheet, people familiar with the situation said.

RBS is selling 318 U.K. branches to Banco Santander SA of Spain for around 1.8 billion pounds ($2.8 billion).

It's also selling its Global Merchants Services division to Advent International Corp. and Bain Capital LLC for between 2 billion and 2.5 billion pounds ($3.1 billion and $3.9 billion), the people said.

Both businesses are being sold by the 83%-government owned bank as part of a disposal program forced on it after being bailed out by the state.

Global Merchant Services' biggest asset is RBS Worldpay, which processes credit card payments in 40 different countries.

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