Bloomberg News

Barclays’ Mansour Investment Came From Abu Dhabi State, BBC Says

February 11, 2013

The 2008 cash injection that helped Barclays Plc avoid nationalization came from the government of Abu Dhabi and not Sheikh Mansour Bin Zayed Al Nahyan, the British Broadcasting Corp. reported.

Mansour’s investment of more than 3 billion pounds ($4.7 billion) was made through International Petroleum Investment Co., an Abu Dhabi state-owned investor, the broadcaster said.

Britain’s second-largest bank by assets called it “simply a drafting error,” according to the BBC. Mansour and IPIC didn’t respond to questions, it said.

“Barclays is satisfied that the steps taken to disclose the change in ownership of the companies which were investing in the bank in 2008 were entirely appropriate in that, immediately following receipt and verification of that information we made overnight amendments to the relevant disclosures relating to the investors in the prospectus documents,” the bank said in a statement. “The change in ownership of the investing companies had no bearing on the transaction or required approvals.”

A call to the IPIC switchboard by Bloomberg News wasn’t answered.

-- Editors: Simone Meier, Edward Evans

To contact the reporter on this story: Howard Mustoe in London at hmustoe@bloomberg.net.

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus