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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Abu Dhabi fund seeks to end 2007 Citi deal

Posted on 16 December 2009

From Reuters: Citigroup Inc said on Tuesday the Abu Dhabi Investment Authority filed an arbitration claim against it, alleging misrepresentation over a $7.5 billion investment by the sovereign wealth fund in the bank.

The sovereign wealth fund bought equity units from the U.S. bank in 2007. In the original deal with ADIA, the Citigroup securities must be converted into common stock at a price between $31.83 and $37.24 a share between March 2010 and September 2011………………………………..Full Article: Source

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