Barclays adds Asian firepower to ABN AMRO bid
China Development Bank and Temasek buy small stakes in Barclays as the UK bank increases its offer for ABN AMRO.
Barclays announced yesterday that China Development Bank and Temasek have become financial-cum-strategic investors in the bank, and then quickly followed this news with an increase in its offer to buy ABN AMRO.
China Development Bank and Temasek will unconditionally invest Ç3.6 billion $4.98 billion in Barclays and the UK bank will use some or all of the proceeds to launch a share buyback programme. The strategic investors will contribute up to a further Ç9.8 billion, contingent upon Barclays being...
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