Market Chatter: Barclays Eyes Bid for British Wealth Manager Evelyn Partners

MT Newswires Live12-06 03:11

Barclays (BCS) is considering a potential acquisition of British wealth manager Evelyn Partners and is planning to submit a bid next week, Reuters reported Friday, citing three people familiar with the matter.

Permira and Warburg Pincus, the private equity shareholders of Evelyn Partners, have asked the prospective bidders to submit their non-binding proposals on Dec. 10, two of the people said, according to the report.

The sale process, which could value Evelyn at about 2.5 billion pounds ($3.3 billion) and launched earlier this year, has attracted interest from London-listed banks NatWest and Lloyds (LYG), the media outlet reported.

Royal Bank of Canada (RY) is also exploring an offer for Evelyn, the report added.

Permira and NatWest declined to comment. While Barclays, Lloyds, Royal Bank of Canada and Warburg Pincus did not immediately respond to MT Newswires' request for comment.

(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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