7th Nov 2006 07:01
Barclays PLC07 November 2006 7th November 2006 BARCLAYS PLC Barclays to acquire INDEXCHANGE from HypoVereinsbank Barclays Bank PLC ("Barclays") announces that it has entered into an agreementwith Bayerische Hypo-und Vereinsbank AG ("HVB") to acquire INDEXCHANGEInvestment AG ("INDEXCHANGE") for a consideration of approximately €240 million. The transaction is expected to close within 3 months, after receipt ofappropriate regulatory approvals. Barclays will finance the transaction out ofexisting cash resources. INDEXCHANGE is Germany's leading provider of exchange traded funds ("ETF") withassets under management of €15.2 billion as at 2nd November 2006. INDEXCHANGEwill be combined with iShares, Barclays Global Investors' ("BGI") ETF businessto create the leading provider of ETFs in Europe. Bob Diamond, President of Barclays said: "The combined business will create apowerful force to accelerate the development of ETFs in Europe. It is ourintention to continue to expand BGI's franchise across Europe and Asia and thisis an important step in the evolution of our strategy." Lee Kranefuss, Chief Executive Officer of iShares, said: "INDEXCHANGE has builta first-class ETF business and team. We are delighted to add the INDEXCHANGEemployees, products and brand to our iShares business and look forward toworking closely with HVB to distribute our enhanced product suite through itsstrong network." Ronald Seilheimer, member of the Board of HVB responsible for Markets &Investment Banking, said: "Barclays is a great partner for INDEXCHANGE.INDEXCHANGE has developed into a strong ETF business since its formation in2000. With its new owner Barclays, INDEXCHANGE enters a new era and willstrongly benefit from Barclays global ETF expertise. The disposal of INDEXCHANGErepresents a logical step in HVB's strategic focus on domestic corporate andretail banking and investment banking." HVB will continue to provide a number of services to INDEXCHANGE includingmarket making and custody. - ENDS - For further information please contact: Barclays Investor Relations Media RelationsJames Johnson/Neil Temple-Gough Alistair Smith/Robin Tozer+44 (0) 20 7116 2927/2928 +44 (0) 20 7116 6132/6586 At Barclays Global Investors: Esther Nass-Fetzmann +44 (0) 20 7668 7170 Bayerische Hypo-und Vereinsbank Media RelationsClaudia Bresgen / Hartmut Pfeifer+49 89 378 25554 / 44959 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,Barclaycard, Barclays Capital, Barclays Global Investors, Barclays Wealth, andInternational Retail and Commercial Banking. www.barclays.com About HVB HypoVereinsbank is a member of the new UniCredit Group, which occupies theleading position in the economic area comprising Italy, Germany, Austria, andcentral and eastern Europe with more than 140,000 employees, 7,000 branches andover 28 million customers. In Germany, HVB is the second-largest private-sector bank with more than 26,000employees, 680 branches and over 4 million customers. The core competencesinclude private and corporate customers, real-estate finance, investment bankingas well as asset management 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. 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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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