Barclays Capital to sell €1bn in assets, FT says

16th Dec 2011 07:49

Barclays Capital is reported this morning to be planning the sale of more than €1bn worth of German apartments.That would be one of Europe's largest residential property deals since the start of the financial crisis, the newspaper adds. However, it also coincides with the asset disposals announced by other firms in the financial sector, such as Old Mutual, who yesterday announced that it will sell its Skandia unit for £2.1bn.The Times is also out this morning with a report about Deutsche Bank's intention to sell its global asset management business for €2bn. Nonetheless, the FT seems to be attributing the move by Barclays to the bank's desire to get ahead of tighter regulatory oversight of commercial property lending, which could see the cost of loans to the sector rise significantly. AB