Barclays in talks to sell French business to AnaCap
Barclays has agreed to hold exclusive negotiations to dispose of its French retail banking and wealth businesses, according to European private equity group AnaCap Financial Partners.
AnaCap said it has begun talks about a deal that would see Barclays continuing to operate its corporate and investment banking operations in France.
Barclays’ French retail operation, which includes a network of 74 branches, is focused on the affluent segment of the market.
As part of its efforts to reduce its non-core business under new chief executive Jes Staley, Barclays has since 1 January completed the sale of its Portuguese retail, wealth and SME banking businesses and made progress in selling its Italian branch network.
The FTSE 100 bank has also begun to exit from investment banking in nine countries and has made progress the sale of its Index business and Asian wealth business, which should all complete in 2016.