barclays-adds-asian-firepower-to-abn-amro-bid

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.
July 23, 2007
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 successful in its enhanced offer of Ç67.5 billion for ABN AMRO.

In an exclusive interview with FinanceAsia, chairman and CEO of Barclays Capital, Robert Morrice says ôBarclays has longstanding working relationships with...
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