Barclays today announced the sale of its iShares ETF business for US$4.4bn to private equity firm CVC...
Barclays today announced the sale of its iShares ETF business for US$4.4bn to private equity firm CVC Capital Partners. It says it will realise a net gain on the sale of $2.2bn. The bank will provide $3.1bn in debt to help finance the deal, according to a Barclays statement. Officials at Barclays expect the deal to close in the third quarter of 2009 after regulatory approval is received in the US, UK, Germany and Ireland. Barclays group chief executive John Varley says: "This transaction realises significant value for Barclays. Barclays shareholders will benefit from a reinforcement o...
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