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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

ADIA arbitration resurfaces for Citigroup

Posted on 27 November 2013

Citigroup Inc.’s litigation woes continue to increase. Recently, a U.S. judge rejected the banking giant’s bid to obstruct the Abu Dhabi Investment Authority (ADIA) from seeking a second arbitration related to the wealth fund’s investment in Citigroup.
In Nov 2007, ADIA invested $7.5 billion in Citigroup, which made it the U.S. bank’s largest individual stakeholder – with 4.9% stake. ADIA’s investment provided a capital cushion to the bank after the latter suffered mortgage losses during the financial crisis………………………………………..Full Article: Source


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