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Barclays Plc completed the sale of its U.K. trusts business to ZEDRA on April 3.
Barclays said the business is "attractive ... with strong growth potential" but was no longer part of its core strategy. The sale forms part of the lender's overall noncore divestment process, which it aims to complete by June 30.
Barclays holds a minority interest in ZEDRA, an independent provider of trust, corporate and fund services.