Resolution Mulling EUR1.5 Billion Takeover Of Rabobank's Robeco-Report

U.K.-based Resolution Group is eyeing a EUR1.5 billion takeover of Rabobank's Dutch fund management fund Robeco N.V. (ROBA.AE), The Sunday Times reports without citing sources.

Resolution Group, headed by chairman Clive Cowdery, the insurance magnate, is believed to be in the early stages of considering a bid for Robeco, one of the biggest fund managers in Europe with EUR180 billion in assets under management, the newspaper said.

Barclays PLC (BARC.LN) is acting as the financial advisor for Robeco and plans to launch the sale process in the next few weeks although potential bidders have already been sounded out, the newspaper said.

It added that Resolution Group would have to raise new funds to pull off the purchase. It also said that a clutch of giant financial firms is circling around the business, but didn't cite any names.

Alex Child-Villiers, a Resolution Group spokesman said the firm doesn't comment on speculation. Barclays and its unit, Barclays Capital, weren't immediately available to comment. Rabobank and Robeco also weren't immediately reachable.

Web Site: www.timesonline.co.uk

-By Alex MacDonald, Dow Jones Newswires; [phone]; [e-mail]