8th Sep 2006 13:05
Barclays PLC08 September 2006 BARCLAYS BANK PLC AND THOMAS COOK UK LTD TO FORM JOINT VENTURE Barclays Bank PLC ("Barclays") and Thomas Cook UK Ltd ("Thomas Cook") have todayannounced that they have signed a Shareholders' Agreement to form a 50/50 jointventure to provide a new Thomas Cook credit card and other financial servicesproducts. The joint venture encompasses Thomas Cook's 600 UK shops serving approximately3.5 million customers. Each party has made an initial de minimis capital contribution to the jointventure. The Shareholders' Agreement is conditional on agreement of the terms ofa Services Agreement to be entered into between Thomas Cook, Barclays and thejoint venture company and on regulatory approvals. This is expected to happenlater this year. The move underlines Barclays strategy to grow its UK lending business with agrowing contribution from partnership business and follows previous, similardeals with Sky, Argos and House of Fraser. - ends - For further information, please contact: At Barclays:Ian BarberHead of Public Relations, BarclaycardTel: +44 (0)1604 251 229 Mark Merson/James S. JohnsonInvestor RelationsTel: +44 (0) 207 116 5752/2927 About Barclays Bank PLC Barclays Bank PLC is a major global financial services provider engaged inretail and commercial banking, credit cards, investment banking, wealthmanagement and investment management services. We are one of the largestfinancial services companies in the world by market capitalisation. Operating inover 60 countries and employing over 118,000 people, we move, lend, invest andprotect money for over 25 million customers and clients worldwide. With over 300years of history and expertise in banking, Barclays Bank PLC has six majorbusinesses including Barclaycard. 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. FORWARD LOOKING STATEMENT 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,the further development of standards and interpretations under IFRS applicableto past, current and future periods, evolving practices with regard to theinterpretation and application of standards under IFRS, as well as UK domesticand global economic and business conditions, market related risks such aschanges in interest rates and exchange rates, the policies and actions ofgovernmental and regulatory authorities, changes in legislation, progress in theintegration of Absa into the Group's business and the achievement of synergytargets related to Absa, the outcome of pending and future litigation, and theimpact of competition - a number of which factors are beyond the Group'scontrol. As a result, the Group's actual future results may differ materiallyfrom the plans, goals, and expectations set forth in the Group's forward-lookingstatements. Any forward-looking statements made by or on behalf of Barclaysspeak only as of the date they are made. Barclays does not undertake to updateforward-looking statements to reflect any changes in Barclays expectations withregard thereto or any changes in events, conditions or circumstances on whichany such statement is based. The reader should, however, consult any additionaldisclosures that Barclays has made or may make in documents it has filed or mayfile with the SEC. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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