According to information obtained by News, Brookfield and the high street bank are having extensive talks about Brookfield becoming a shareholder in its UK merchant acquisition division.
Since Barclays announced in February that it was considering a sale or partnership of the company, negotiations with Brookfield and other potential buyers have repeatedly stalled.
They are reportedly back on track, though, since the Canadian asset manager is reportedly planning to buy the majority of the company.
According to a source close to Barclays, Brookfield would be responsible for paying the expenses of expanding the company as part of the agreement under consideration.
The worth of Barclays’ merchant acquisition business has been estimated to be anywhere from less than $1 billion and $2.5 billion.
On Tuesday, it was unclear what the ongoing debates ascribed to its valuation.
Under its CEO, CS Venkatakrishnan, Barclays is in a position of comparative strength at the time of the negotiations.
