Barclays has constructed an elaborate schmuck-insurance policy as part of its plan to possibly hive off its payments business. On Thursday, the 40-billion-pound UK bank announced a deal that could give Brookfield Asset Management 10% of the division in return for the private-capital group's help in growing the unit,

Barclays Plc (NYSE:BCS) is nearing a sale of a stake in its payments unit to Brookfield Asset Management (NYSE:BAM). A deal could happen as soon as this week, according to a Bloomberg report on Tuesday,

LONDON (Reuters) -Barclays has agreed terms for Brookfield Asset Management to buy most of its British payments business, the bank said on Thursday, ending a more than year-long effort to offload the business which processes payments for retailers.