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

Abu Dhabi fund seeks cash from Citibank

Posted on 18 December 2009

From AFP: US banking firm Citigroup has said it will vigorously defend itself against a claim filed by Abu Dhabi’s sovereign wealth fund seeking four billion dollars over a 2007 share purchase deal.

In a statement released this week, Citigroup said “an arbitration claim was filed against Citi in New York by the Abu Dhabi Investment Authority (ADIA), which purchased equity units from the company in November 2007.”……………………………….Full Article: Source

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