Mon, 21 Dec 2015 | BUSINESS SALE
Barclays has confirmed that it has sold its risk analytics and benchmark indices business to Bloomberg.
The bank announced the sale last Wednesday (16 December), confirming that the financial information provider was sold for £480 million.
Michael Bloomberg, founder of the purchasing company, commented: “As financial markets continue to evolve, our clients need and expect the index business to evolve too.”
Barclays chief executive, Jes Stanley, added that the firm is “pleased to partner closely with Bloomberg upon completion of the transaction”.
A co-branding arrangement between the two businesses will run for five years initially, before being reviewed.
This isn't the first time that Barclays has put this area of its business up for sale; back in 2014 it designated it as 'non-core' and launched an unsuccessful auction after potential buyers realised that Bloomberg owned some bond pricing data associated with the sale, meaning it would not be included in the earlier mooted sale.
Clearly this data issue was not a problem to Bloomberg who saw the purchase as an opportunity to bolster the data it provides. Included in the index business are inflation-linked, fixed income and swaps indices.
View other professional and financial businesses for sale.
An established MOT and service centre positioned in the vibrant community of Portslade, Brighton, presents a unique opportunity for investment in East Sussex's automotive service industry.
A licensed restaurant in Brighton, East Sussex, featuring alfresco seating for 60 covers, is available for purchase.
LEASEHOLD
Opportunity to acquire a maintenance grooming equipment business in Brighton at a reduced price for a quick sale.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.