Barclays business unit could reach $1bn

Barclays Canary Wharf

Barclays' planned sale of its index business could yield close to $1bn, more than double what the bank had expected.

The Daily Telegraph reports that the long-anticipated sale of the Index, Portfolio and Risk Solutions (IPRS) business kicked off in early June, and several bidders recently progressed into the auction's second round.

Before Barclays provided detailed financial information on the index business, potential bidders had estimated the unit to be worth above $400m, Reuters reported. The business includes a basket of more than 98 major indexes, according to the unit's website.

But the business showed much higher than expected revenue figures during early due diligence, and now potential buyers are valuing the unit at nearly $1bn.

To access the complete Daily Telegraph article hit the link below:

Barclays index business could worth $1bn

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