Barclays Bank plans to sell $6.1 bn stake in BlackRock

UK-based Barclays Bank PLC intends to sell its entire 19.6 per cent stake in the US asset management company BlackRock Inc, valued at $6.1 billion.

The bank said it will sell its holding through a registered offering and a $1 billion buyback by BlackRock.

Barclays acquired the stake when it sold its asset management division, Barclays Global Investors, to BlackRock in 2009.