05.02.2014 - Credit Suisse, Abu Dhabi fund calls probes, launch arbitration efforts to exit from $35M investment in Mongolian bank
Documents reviewed by Bloomberg News revealed that Credit Suisse Group AG and the sovereign wealth fund of Abu Dhabi has launched strategic steps to exit from its $35 million investment in Mongolia. The investors, betting on the promise of the Central Asian country's $1.3 trillion mineral wealth, offered Golomt Bank LLC funds in convertible loans beginning 2007. Under the terms of the agreement, Credit Suisse and the Abu Dhabi Investment Council were set to obtain shares as part of a proposed initial public offering in one of the biggest lenders in Mongolia within five years of each deal. Moreover, the loan agreements, as reviewed by the news agency, required Golomt to provide audited financial statements promptly to the investors...............................................Full Article: Source
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