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Reply #11: Duke Energy paying $700M to move derivatives biz to Barclays [View All]

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UpInArms

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Fri Nov-18-05 08:27 AM
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11. Duke Energy paying $700M to move derivatives biz to Barclays

A changing of bookies?

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38674.3298626157-851246283&siteID=mktw&scid=0&doctype=806&

NEW YORK (MarketWatch) -- Duke Energy Corp. (DUK) on Friday said it'll transfer all of Duke Energy North America's portfolio of derivatives contracts to Barclays Capital, the investment banking division of Barclays Bank PLC. Barclays will receive from Duke approximately $700 million in cash which primarily reflects the amount by which the portfolio is below current market value as well as certain transaction costs. Shares rose 41 cents to $26.85 on Thursday.

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