11th Oct 2006 14:30
Barclays PLC11 October 2006 11th October 2006 BARCLAYS PLC Barclays acquires 4.70% of Infrastructure Development Finance Company Limited of India Barclays Bank PLC ("Barclays") today announces that it has acquired a 4.70%equity holding in Infrastructure Development Finance Company Limited ("IDFC").The equity stake was acquired through Barclays Capital Mauritius Limited, aregistered Foreign Institutional Investor, via secondary market purchases and isin the nature of an investment. The total amount invested was approximatelyINR3.80 billion (approximately £44.8 million). Mr Robert Morrice, Chairman and Chief Executive, Barclays Asia-Pacific, said:"Our stake in IDFC underlines our interest in the fast growing infrastructuresector in India and allows us to participate through an investment in thelargest infrastructure finance company in India. We believe India presents uswith tremendous opportunities and this investment further evidences our desireto be part of the India growth story." Barclays has had an active presence in India for over 27 years and commencedbanking operations under a full banking licence in Mumbai during the 1990s. Byleveraging its international expertise and by working closely with Indiancorporate and financial institutions, Barclays has established a reputation as aleading player in the onshore and cross-border debt capital and equity-linkedmarkets, and is a market leader in providing liability risk managementsolutions. On 21st March, 2006, Barclays announced a US$150 million investmentto support its expansion in Indian investment banking, and a further US$70m forits corporate and commercial banking business. This transaction forms part ofBarclays ongoing investment and development of its business in India. - ENDS - For further information please contact: Barclays Investor Relations Media RelationsJames S Johnson Alistair Smith+44 (0)20 7116 2927 +44 (0)20 7116 6132 At Barclays Capital Maeve Gallagher +852 2903 2298 About Barclays Barclays PLC is a major global financial services provider engaged in retail andcommercial banking, credit cards, investment banking, wealth management andinvestment management services. We are one of the largest financial servicescompanies in the world by market capitalisation. Operating in over 60 countriesand employing over 118,000 people, we move, lend, invest and protect money forover 25 million customers and clients worldwide. With over 300 years of historyand expertise in banking, Barclays has six major businesses. UK Banking delivers banking products and services to over 14 million retailcustomers and 788,000 businesses in the UK. UK Banking includes UK RetailBanking and UK Business Banking. Barclaycard is one of the leading credit card businesses in Europe and has 11.2million UK customers and 5.3 million international cards in issue. Barclays Capital, the investment banking division, provides corporate,institutional and government clients with solutions to their financing and riskmanagement needs. Barclays Global Investors is one of the world's largest asset managers and aleading provider of investment management products and services. The totalassets under management at 30th June, 2006 were US$1.6 trillion. Barclays Wealth serves affluent, high net worth and intermediary clientsworldwide, providing private banking, asset management, stockbroking, offshorebanking, wealth structuring and financial planning services. At 30th June, 2006,total client assets were £84.7 billion. Outside the UK, Barclays global retail and commercial banking operations haveover 2 million international clients, in geographies which currently includeFrance, Spain, Portugal, Italy, India, Africa and the Middle East. Absa has anadditional 8.0 million retail customers in South Africa. www.barclays.com About Barclays Capital Barclays Capital is the investment banking division of Barclays Bank PLC. With adistinctive business model, Barclays Capital provides large corporate,government and institutional clients with solutions to their financing and riskmanagement needs. Barclays Capital has offices in 26 countries, employs over10,500 people and has the global reach and distribution power to meet the needsof issuers and investors worldwide. In November 2005, Financial News magazine awarded Barclays Capital 'EuropeanInvestment Bank of the Year' in its annual Awards for Excellence. In addition,Barclays Capital ranked No. 1 for Capital Raising in Euromoney's 2005 CapitalRaising Survey. www.barclayscapital.com. Disclaimer This document contains certain forward-looking statements within the meaning ofSection 21E of the US Securities Exchange Act of 1934, as amended, and Section27A of the US Securities Act of 1933, as amended, with respect to certain of theGroup's plans and its current goals and expectations relating to its futurefinancial condition and performance. These forward-looking statements can beidentified by the fact that they do not relate only to historical or currentfacts. Forward-looking statements sometimes use words such as 'aim','anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal','believe', or other words of similar meaning. Examples of forward-lookingstatements include, among others, statements regarding the Group's futurefinancial position, income growth, impairment charges, business strategy,projected levels of growth in the banking and financial markets, projectedcosts, estimates of capital expenditures, and plans and objectives for futureoperations. By their nature, forward-looking statements involve risk and uncertainty becausethey relate to future events and circumstances, including, but not limited to,domestic and global economic and business conditions, market related risks suchas changes in interest rates and exchange rates, the policies and actions ofgovernmental and regulatory authorities, changes in legislation, the outcome ofpending and future litigation, and the impact of competition - a number of whichfactors are beyond the Group's control. As a result, the Group's actual futureresults may differ materially from the plans, goals, and expectations set forthin the Group's forward-looking statements. Any forward-looking statements madeby or on behalf of Barclays speak only as of the date they are made. Barclaysdoes not undertake to update forward-looking statements to reflect any changesin Barclays expectations with regard thereto or any changes in events,conditions or circumstances on which any such statement is based. The readershould, however, consult any additional disclosures that Barclays has made ormay make in documents it has filed or may file with the SEC. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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