Banking giant Barclays is close to sealing a 13 billion US dollar takeover of its fund management business. The company is in talks with US giant BlackRock over the sale of its Barclays Global Investors (BGI) business. Details of the deal are still being finalised, but BlackRock is expected to pay in cash and shares, giving Barclays a stake of up to 20% in the US firm. Gulf-based investors from Qatar, Abu Dhabi and Kuwait are also said to be helping BlackRock finance the move, in return for a stake of up to 12% in the US company. Barclays' economic interest in BlackRock is likely to bigger than its voting rights due to US competition rules - although it could gain two seats on the board.