Barclays to sell $6.1BN stake in BlackRock

[May 21, 2012]  LONDON (AP) -- Barclays Bank PLC, the U.K. bank, says it intends to dispose of its entire 19.6 percent stake in the U.S. asset management company BlackRock Inc, valued at $6.1 billion.

The bank said Monday that it will sell its holding through a registered offering and a $1 billion buyback by BlackRock.

Barclays acquired the stake when it sold its asset management division, Barclays Global Investors, to BlackRock in 2009.

[Associated Press]

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