Wealth and Asset Management
How Barclays and BlackRock Pulled Off a $10 billion Tax Dodge
The profits passed through Luxembourg. When Barclays sold a fund management business to U.S. financial group Blackrock in 2009, the larger-than-expected $15.2 billion price tag was not the only good news for the British bank’s investors. The way Barclays BCS -0.40% structured the sale by booking part of the proceeds…
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