Barclays is to sell its index and analytics business to Bloomberg for £520m, with completion due by mid-2016, subject to regulatory approval. Barclays had acquired most of the business when it bought chunks of Lehman Brothers' remains in the wake of the financial crisis. Barclays put its index business up for sale in 2014 after designating it as ‘non-core’, but an auction ran into difficulty after would-be buyers realized some bond pricing data would not be part of the package, people familiar with the situation told Reuters last year. The bank has been looking to sell the business since mid-2014 when it decided the unit was not part of its core operations. Barclays' chief executive, Antony Jenkins, said that while he did not expect a deal to be completed before the end of this year, there were no immediate plans to close any divisions.
Barclays is to sell its index and analytics business to Bloomberg for £520m, with completion due by mid-2016, subject to regulatory approval. Barclays had acquired most of the business when it bought chunks of Lehman Brothers' remains in the wake of the financial crisis. The bank has been looking to sell the business since mid-2014 when it decided the unit was not part of its core operations. Barclays' chief executive, Antony Jenkins, said that while he did not expect a deal to be completed before the end of this year, there were no immediate plans to close any divisions.