UPDATE 1-BlackRock, BGI to merge Japan operations - Nikkei
June 13 (Reuters) - BlackRock Inc (BLK.N: Quote, Profile, Research) and Barclays Global Investors, or BGI, plan to merge their Japanese units as early as this year, the Nikkei business daily said.
On Thursday, BlackRock agreed to buy Barclays Global Investors to create the world's biggest asset manager in a $13.5 billion deal. [ID:nLC391915]
The Japanese units of both asset management firms are slated for integration as well, BlackRock Japan Co President Hiroyuki Arita told the paper.
BlackRock's balance of investment assets in Japan would come close to 20 trillion yen as a result, the highest among asset management firms operating in this country, Nikkei said.
For the alerts double-click [ID:nWNAB9378]. (Reporting by Anand Basu in Bangalore; Editing by Ratul Ray Chaudhuri)
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