U.K. bank Barclays PLC (BARC.LN) said Thursday that it and CNP Assurances SA (CNP.FR), a personal insurer in France, with operations in the rest of Europe and in South America, have established a long-term life insurance joint venture in Spain, Portugal and Italy.

MAIN FACTS:

-JV follows the completion of the sale of a 50% stake in Barclays Vida y Pensiones Compania de Seguros to CNP.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com