Google

Monday 23 July 2007

Barclays Bid

The ABN Amro bid from Barclays has been lifted today by the latter mentioned with backing from two Far Eastern investors and announced that first-half earnings rose by 14%. China Development Bank (CDB) and Temasek, respectively owned by the Chinese and Singaporean governments, are buying £2.5 billion worth of new Barclays shares and could purchase another £6.6 billion of its bid for ABN succeeds. The deal has enable Barclays to lift its offer for ABN to £46 billion. CDB, which was founded in March 1994 and is under the jurisdiction of the Chinese Government, has assets of £150 billion and has funded national projects, but earlier this year signalled that it wanted a broader investment approach. Temasek has an investment portfolio worth £38.9 billion in sectors including transport, real estate and energy.

No comments: