Sunday 17 May 2009 8:00 pm

BGI suitors aim to scupper CVC iShares deal

Follow admindrupal

FUND management firm Blackrock and Bank of New York Mellon are believed to have tabled bids for Barclays’ BGI unit, valued at around $10bn (£6.6bn).

The division is up for sale as part of a “go-shop” clause within an already agreed deal for BGI subsidiary iShares, due to be sold to private equity house CVC for £3bn.

Meanwhile, sources close to the bank scotched rumours that its investment bank, BarCap, was preparing to take over brokerage Execution.

Share


Tags: