Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
EU approves BlackRock's bid for Barclays' investment arm
+ -
08:33, September 24, 2009

 Related News
 EU to strengthen financial supervision in Europe
 Oil options hit highs amid fears of huge plunge
 EU delay of Sun takeover costly
 WTO chief says cautious on Doha Round outlook
 London stock market closes higher
 Comment  Tell A Friend
 Print Format  Save Article
The European Commission on Wednesday approved BlackRock's bid for British bank Barclays' asset management arm, a deal worth 13.5 billion U.S. dollars and set to elevate BlackRock to the world's largest asset manager.

The commission, the EU's competition guardian, said in a statement that the transaction would not significantly impede effective competition in Europe.

Barclays Global Investors, Barclay's asset management arm, is active in structured investment strategies such as indexing, global allocation and risk-controlled active products as well as related investment services such as securities lending, cash management and transition management services, primarily to institutional clients.

The U.S.-based BlackRock is also an asset management company, managing assets on behalf of institutional and individual investors worldwide through a variety of fixed income, cash management, equity and investment accounts and funds. It also offers risk management and advisory services.

The proposed merger would bring together two leading global asset managers with differentiated asset management products and strategies. With 2.8 trillion U.S. dollars of client funds in total, the new combined company, renamed BlackRock Global Investors, will rank No. 1 in the world.

Barclays said it would be rewarded with 6.6 billion U.S. dollars in cash under the deal and get a 19.9-percent stake in the new company.

Source:Xinhua



  Your Message:   Most Commented:
Indian media stinks up public opinions
World's top ten most mysterious and horrible spots
Which country has the most beautiful women?
Baby alien found by Mexican farmer
How do India's middle school textbooks portray China?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90865/6766170.pdf