Barclays ups ABN Amro bid with Asian help

British bank Barclays said on Monday that it would raise its offer for ABN Amro Holding NV to $93.1 billion with help from two Asian partners, in an attempt to remain competitive with a rival bid from a group led by Royal Bank of Scotland Plc.

Barclays said it had struck a deal with China Development Bank and Temasek Holdings Ltd of Singapore, whereby the pair will buy $5.0 billion of new Barclays shares now, and an additional $13.5 billion if the bid to buy ABN Amro is successful.