Barclays announces sale of iShares for $4.4bn

Here’s the statement, fresh off the RNS. It’s much less than that £5bn initially punted, but more than some estimates.

Barclays announces sale of iShares for US$4.4 billion (£3.0 billion)

The Board of Directors of Barclays PLC today announces agreement for the sale of its iShares business (”iShares”) to Blue Sparkle LP (”Bidco”), a new limited partnership established by CVC Capital Partners Group SICAV-FIS S.A. (”CVC”), for a total consideration of approximately US$4.4 billion (£3.0 billion).

The transaction will:

- Allow Barclays to crystallise significant value through the realisation of an expected net gain on sale of US$2.2 billion (£1.5 billion), taking into consideration goodwill of US$1.4 billion (£1.0 billion), from a business grown largely organically over the last five years;