Thursday April 9, 02:36 PM
Barclays sells iShares to CVC for $4.4 bln
LONDON (AFP) - British bank Barclays said Thursday it had sold its asset management business iShares to private equity group CVC Capital Partners for 4.4 billion dollars (3.3 billion euros, 3.0 billion pounds).
Barclays will lend 3.1 billion dollars of the sum to CVC itself, it said.
The bank said on March 16 that it had approached "a number of potentially interested parties" about selling iShares, and said last week that CVC Capital Partners was its preferred bidder.
Barclays has fared better in the financial crisis than many of its banking rivals, turning down the option of taking government funds to get through the storm and preferring to raise fresh capital elsewhere.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
