LONDON — Barclays said Thursday it has sold its iShares business to Blue Sparkle, or Bidco, a new limited partnership established by CVC Capital Partners Group SICAV-FIS for $4.4 billion.

The transaction will allow Barclays to crystallise significant value through the realisation of an expected net gain on sale of $2.2 billion, taking into consideration goodwill of $1.4 billion, from a business grown largely organically over the last five years, it said.

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