Royal Bank of Scotland will take over Euro Sales Finance, the invoice discounting and factoring group that last week issued its third profits warning in four months. The bank part of the consortium that this year helped Euro Sales with a £30 million sterling (€47.4 million) increase in its banking facilities is offering 440p a share. The offer values the total equity at £68 million, a small premium to the net asset value of £64 million. But the offer is well below the £14.75 paid by some shareholders in a rights issue last year.