By MarketWatch HONG KONG (MarketWatch) -- Royal Bank of Scotland Group is seeking to sell about 3 billion pounds ($4.8 billion) worth of assets in coming months, with some of its Asian operations expected to be among the first to secure a buyer, according to a British news report. The Edinburgh-based bank is near to securing the sale of its retail and commercial banking business in India, China and Malaysia to HSBC Plc. (HBC 57.42, 0.00, 0.00%) (HK:5 88.40, -0.20, -0.23%) (UK:HSBA 718.90, 0.00, 0.00%) , with a general agreement expected to be announced as soon as Friday, according to an unsourced report Sunday in the U.K-based Observer newspaper. RBS (RBS 9.49, 0.00, 0.00%) (UK:RBS 29.30, 0.00, 0.00%) , which is 83% held by the British government, is also in final negotiations over the sale of its asset-management business, a division which could fetch up to 100 million pounds, the report said. Among the highest profile assets reportedly to be sold is the RBS stake in its Sempra Commodities metals joint venture. Potential buyers are said to include J.P. Morgan Chase & Co. (JPM 41.86, -0.03, -0.07%) , Deutsche Bank AG (DB 72.60, 0.00, 0.00%) (DE:DBK 50.64, +0.35, +0.70%) and Macquarie Group Ltd. (AU:MQG 48.00, +0.56, +1.18%) (MCQEF 41.40, -41.40, -50.00%) . RBS own 51% of the JV, and a separate report in the Sunday Times said RBS' partner, U.S.-based Sempra Energy (SRE 56.53, 0.00, 0.00%) which owns the remaining 49%, would also sell its stake. The Sempra JV was among assets that RBS was ordered to sell by the European Union as part of conditions for receiving 54 billion pounds in state aid, the reports said. The combined stake sale could reportedly raise up to 2.5 billion pounds.

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