Barclays is closing in on a £650m deal to offload control of its UK payments business to the Canadian investment giant Brookfield Asset Management after months of negotiations, Sky News learns.
Sky News has learnt that the two companies are in the final stages of talks about a transaction that will initially see Brookfield acquiring 10% of the UK bank’s merchant acquiring division.
Three years after the deal completes, Brookfield would then acquire a further 80% of the unit, leaving Barclays as a 10% shareholder.
Estimates of the value of Barclays’ merchant acquiring arm have varied wildly, ranging from less than $1bn to $2.5bn.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
