Barclays (BCS) is in advanced talks to sell a stake in its payments business to Brookfield Asset Management (BAM), Bloomberg reported Tuesday, citing sources familiar with the matter.
Barclays would initially sell a minority stake, with Brookfield having the option to increase its holding within three to seven years depending on the performance of the business, according to the news outlet.
An announcement could come as soon as this week, though no final agreement has been reached, the report added.
Representatives of Barclays and Brookfield didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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