Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
Cash for Barclays, Expertise for CDB
Adjust font size:

Both Barclays and China Development Bank (CDB) stand to gain enormously from the strategic partnership they inked yesterday.

Under the deal, China Development Bank, one of the country's policy banks, will initially invest 2.2 billion euros in Barclays by acquiring 201 million new Barclays shares, or 3.1 percent of Barclays shares, at 7.2 pounds apiece on August 14.

And, if the Barclays bid for ABN Amro goes through, the Chinese bank will invest a further 7.6 billion euros in Barclays at 7.4 pounds per new share to fund the 24.8 billion euro cash component of Barclays' revised offer to the Dutch bank.

Barclays, the England-based financial institution, is now in a battle with a European banking consortium led by Royal Bank of Scotland to acquire ABN Amro.

Although ABN executives have shown their preference for Barclays, which plans to merge ABN's business to build a leading global bank, the consortium's offer, higher and almost entirely in cash, seems more attractive to some ABN shareholders compared with Barclays' original all-share offer.

The investment from CDB, as well as Singapore's Temasek Holdings, will add muscle to Barclays' bid.

ABN said yesterday that it welcomed the strategic investment in Barclays from China and Singapore, although it would examine both offers in a fair and transparent manner.

"The proposed strategic cooperation with CDB further enhances the growth opportunities of the combined group in the attractive Asia market and can result in the creation of additional long-term value for ABN shareholders," the bank said.

Barclays Chief Executive John Varley said the prospect of CDB becoming a major investor in Barclays does not bother him.

According to the agreement, CDB may have up to 8 percent stake in Barclays in the future and is free to buy additional shares in the open market, with a limit of shareholding under 10 percent.

"I am comfortable It's by far the biggest external investment ever made by China, and it's very good for Barclays," Varley said, adding the deal would give the bank unprecedented access to the Chinese market.

For the Chinese bank, partnering with Barclays is not a pure equity investment, it will also benefit in terms of expertise, service abilities and access to Barclays' global franchise.

Under the partnership, Barclays will assist and advise CDB in its evolution into a commercially operated financial institution.

It will provide expertise and advice in fields including risk management, corporate governance and IT strategy and procurement.

"This strategic and financial collaboration is the next step in the evolution of CDB into a commercially operated financial institution," said Chen Yuan, the Chinese bank's governor, adding the investment in Barclays represents a unique and compelling financial opportunity.

CDB is the first of the three policy banks which the Chinese government has planned to transform into commercially operated financial institutions.

(China Daily July 24 2997)

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
Related Stories
Chinese Bank Makes Global Finance Foray
Barclays Capital Seeks Further Growth
Barclays Growth Strategy to Avoid Acquisitions
Barclays Capital to Open Branch in Shanghai

July 19 Shanghai Shanghai Finance Forum

Aug. 8-10 Beijing Company Summit Conference of China

Aug. 18-19 Beijing China Economic Development Forum

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback
SEARCH THIS SITE
Copyright ? China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號
主站蜘蛛池模板: 久久97久久97精品免视看秋霞 | 三级韩国床戏3小时合集| 星空无限传媒在线观看| 国产裸拍裸体视频在线观看| 一边伸舌头一边快速喘气音频原声| 日韩一卡2卡3卡4卡| 伊人久热这里只精品视频| 美日韩在线视频| 国产偷自拍视频| 91影院在线观看| 国产精品一卡二卡三卡| 91制片厂果冻传媒白晶晶| 大胸小子bd在线观看| 久久午夜无码鲁丝片午夜精品| 澳门a毛片免费观看| 出轨的女人2电影| 老司机67194精品线观看| 国产免费一区二区三区在线观看 | 国内精品久久久人妻中文字幕| lisaannxxxxx| 日本无卡码一区二区三区| 亚洲AV无码乱码在线观看富二代| 理论片2023最新在线观看| 农村乱人伦一区二区| 美女内射无套日韩免费播放| 国产一国产一级毛片视频| 91av福利视频| 在线免费观看色片| a√天堂中文在线最新版| 好吊操视频在这星| 一本色道久久hezyo无码| 日韩福利在线视频| 亚洲av无码专区在线观看成人 | 桃子视频在线官网观看免费 | 欧美浓毛大泬视频| 亚洲精品99久久久久中文字幕| 狠狠色成人综合首页| 免费体验120秒视频| 皇上往下边塞玉器见客| 免费一级片在线| 男人插女人30分钟|