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Barclays is reportedly in advanced talks to sell a stake in its payments business to Brookfield Asset Management.
An announcement of a deal could come this week, though no final agreement has been reached and there could be a delay, Bloomberg reported Tuesday (April 15).
A spokesperson for Barclays said in the report: “We are exploring a number of options for investment in our market-leading merchant acquiring business, including strategic partnerships. We will provide any further updates in due course.”
The talks come at a time when Barclays has been shedding non-core businesses — including its German consumer finance division and a portfolio of Italian mortgages — and when many of its European rivals have been doing the same, according to the report.
Brookfield Asset Management purchased Middle Eastern payments processor Network International Holdings in 2024 and hired former Worldpay CEO Ron Kalifa as vice chair and head of financial infrastructure…
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