Acceptance of the BlackRock o

RNS Number : 0090U

Barclays PLC

16 June 2009

 



16 June 2009

Barclays announces acceptance of the BlackRock offer for BGI 

 and termination of the CVC transaction

The Board of Barclays PLC ('Barclays') today announces that it has accepted BlackRock's offer to purchase the Barclays Global Investors business and has resolved to recommend it to shareholders for approval at a general meeting to be called for the purpose which will be held in early August 2009.

In connection with accepting the BlackRock offer, Blue Sparkle, L.P. ('Blue Sparkle'), the CVC Capital Partners SICAV-FIS S.A. ('CVC') vehicle formed in relation to the CVC funds' proposed purchase of the iShares business, has agreed to terminate the transaction without exercising its right to propose an alternative proposal to the BlackRock offer announced on 12 June 2009. Barclays will pay Blue Sparkle fees of US$175 million (£106 million) under the agreement with Blue Sparkle signed on 9 April 2009.

For further information please contact:

Investor Relations	Media Relations
Stephen Jones	Alistair Smith
[phone]	[phone]
	Media Relations - New York
	Michael O'Looney
	[phone]

About Barclays 

Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the USA, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 156,000 people. Barclays moves, lends, invests and protects money for 48 million customers and clients worldwide. For further information about Barclays, please visit our website www.Barclays.com.

Exchange rates used

The exchange rate used in this announcement is £1 equals US$ US$1.6438 as published by Thomson Reuters at the close of trading on 16 June 2009.

 

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