Barclays to buy carbon trader for £98m
Barclays agrees to buy Swedish carbon trader Tricorona
Barclays has successfully negotiated the £98 million acquisition
of Swedish carbon credits trader Tricorona.
The bank offered around eight Swedish kronor (70p) per share for
Tricorona, which specialises in the sourcing, development and
trading of offsets from greenhouse gas reduction projects in
Barclays Capital, the banks investment division, claims the move
will further cement its position as a leading trader in the carbon
Tricorona shareholders, who hold around 20 per cent of the
group's shares, have already entered into an agreement over the
The Stockholm-based firm recently rejected a smaller takeover
offer from the Swedish energy company Opcon AB.
Gus Hochschild, analyst for financial group Mirabaud, told
Reuters: "This transaction offers a better fit, especially given
that Barclays is one of the most active participants in the carbon