Sources are saying that it’s become official: Barclays has sold its line of iShares exchange traded funds (ETFs) to a European private-equity firm.

The deal with CVC Capital Partners is said to be worth $4.4 billion, and it would leave Barclays with a 20% stake in the business, report Sara Schaefer Munoz and Dana Cimilluca for The Wall Street Journal. Barclays was apparently so eager to get a deal done that it agreed to lend CVC as much as 70% of the purchase price.

They hope to announce the deal by Thursday, but sources say it could still be delayed.

The iShares unit offers 360 ETFs around the world, and contributed a huge portion of the bank’s profits in 2008.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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