Barclays will announce it is selling its iShares asset management unit to CVC Partners on Thursday, people familiar with the matter told Reuters.
The deal is likely to be worth around 3 billion pounds, the report states. Barclays will hold on to 20 percent of iShares, however, through warrants, a person said at the time the deal was first announced on March 31, Reuters reports.
The firms want to complete the deal before the Easter holiday break, people said. The bank is also expected to lend 70 percent of the money required to finance the deal, sources told the news agency.