Wilson PonBarclays Sold US$13.5 billion Fund Management Division to Blackrock!
August 20th 2009 15:46
This recession has causing many companies to declare bankruptcy one by one. Well, Barclays is one of those who being struggled with the financial crisis. In order to overcome the hard time, they’ve chosen to sell its fund management division to United States Money Management Firm, Blackrock, which is valued over US$13.5 billion.
The main purpose of the sale is to raise funds for Barclays and prevent further losses on loans or investments it has made before the economy turbulence starting to violence last year!
The brand new company, which Barclays will only hold a 19.9% share, is given named as “Blackrock Global Investors”.
“Both clients and shareholders are going to benefit from the merging. At least, it’s better from declaring bankruptcy and lost all the assets away,” said Bod Diamond from Barclay.
Note: Picture thanks to topnews.
The main purpose of the sale is to raise funds for Barclays and prevent further losses on loans or investments it has made before the economy turbulence starting to violence last year!
The brand new company, which Barclays will only hold a 19.9% share, is given named as “Blackrock Global Investors”.
“Both clients and shareholders are going to benefit from the merging. At least, it’s better from declaring bankruptcy and lost all the assets away,” said Bod Diamond from Barclay.
Note: Picture thanks to topnews.
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