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Barclays sells benchmark indices unit to Bloomberg


LONDON (Reuters) - Barclays p.C has sold its benchmark indices and hazard analytics business, which includes the widely used Barclays U.S. Aggregate Bond Index, to financial data company Bloomberg for approximately 520 million kilos ($781 million).


Barclays stated on Wednesday the sale of its hazard Analytics and Index solutions enterprise will bring about a pretax benefit of about 480 million pounds and lift its common equity capital ratio by approximately 10 foundation points whilst the deal completes, expected via mid-2016.

The bank said it was further proof of its discount of activities that it does not remember strategically important.

Barclays and Bloomberg stated they would preserve a co-branding association at the benchmark indices for an preliminary term of 5 years.

"As economic markets retain to adapt, our customers need and anticipate the index business to evolve too," said Michael Bloomberg, the organization's founder.

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Barclays placed its index commercial enterprise up for sale in 2014 after designating it as 'non-center', but an auction ran into issue after would-be buyers realized some bond pricing facts might no longer be a part of the package deal, humans acquainted with the situation advised Reuters final 12 months. That became in part due to the fact some of the facts had been owned through Bloomberg, the resources stated.

Barclays received some of its index commercial enterprise as a part of its Lehman Brothers acquisition in 2008.

It includes constant profits, inflation-linked, and swaps indices, inclusive of its combination, high-Yield, rising Markets, Municipal and well-known Index families.

Thomson Reuters competes with Bloomberg as a financial news and records provider.

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