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.
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