Barclays Sheds Entire Blackrock Investment

May 25, 2012

On May 21, 2012, Reuters.com reported that Barclays Plc will sell its $6.1 billion stake in BlackRock Inc. in advance of the latest Basel rules.

On May 21, 2012, Reuters.com reported that Barclays Plc will sell its $6.1 billion stake in BlackRock Inc. as a preemptive measure in advance of the latest Basel rules to be issued by the Basel Committee on Banking Supervision which would force the bank to set aside additional capital to cushion against any decline in value of the holding.  London-based Barclays took a 19.6% stake in the fund manager in the 2009 sale of Barclays Global Investors to BlackRock. 

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Categories

Investment Manager Financings, Private Equity Financings, Transactions