Barclays sells Portugal assets to Spain's Bankinter for 175 mln euros

September 2, 2015 8:47 PM

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Sept 2 Barclays Plc said on Wednesday it would sell its Portugal-based non-core assets to Spain's Bankinter SA for about 175 million euros ($197.47 million), as part of chairman John McFarlane's turnaround plan to sell assets and cut costs.

The sale includes such assets as retail banking, wealth and insurance management businesses and part of the corporate banking businesses. The price for those assets will be 100 million euros.

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