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Barclays in $10 billion talks to sell BGI
Lucy Tobin19.05.09
Barclays is in talks to sell its asset management arm, Barclays Global Investors, for about $10 billion, it emerged today.
The bank has already agreed to sell the iShares division of BGI to private equity house CVC Capital Partners for £3 billion, but has since received new interest from both trade and private equity buyers for the whole operation, according to the Financial Times.
Potential bidders include American money manager BlackRock, which would gain a big boost in exchange-traded funds, a speciality of the iShares division.
Private equity firms BC Partners and Hellman & Friedman were also considering a counter bid for iShares.
