By DPA
London : Britain's Barclays Bank has reached a deal with China and Singapore making the two governments major shareholders to strengthen its bid to take over Dutch banking giant ABN Amro, it was reported Monday.
Barclays, which is fighting against a Royal Bank of Scotland-led consortium to take over ABN, will be using the funding to lift its offer for the Dutch bank to 45.4 billion pounds (about $91 billion).
The deal will see the China Development Bank take a 3.1-percent stake in Barclays, with Singaporean investment fund Temasek taking 2.1 percent, in a 2.5 billion pound investment.
If Barclays' bid for ABN succeeds, the duo will buy further shares worth up to 6.6 billion pounds in the combined business, the BBC reported.
Barclays had previously agreed a 45 billion-pound offer with the ABN board, although its Royal Bank of Scotland-led rival tabled a formal 48.2-billion pound bid last Friday.
Commentators said the deal underlined the determination of China and Singapore to use their considerable financial muscle to acquire strategic stakes in Western banking and business, while Barclays hoped that "Asian financial firepower" would help it win the battle for ABN Amro.