Middle East Investors Buy Into Barclays
Barclays is raising up to £7.3bn from Middle East investors, the Guardian reports, who could end up owning more than a third of the UK's second largest bank. The move allows the bank to strengthen its balance sheet without taking help from the taxpayer.
The cash injection is coming from the royal families of Abu Dhabi and Qatar, who have both agreed to pump billions into Barclays to bolster its capital ratios. The Qataris, who already own a significant shareholding in Barclays, are providing up to £2.3bn. Once the deal goes through they will own up to 15.5% of the bank.
Sheikh Mansour Bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, will provide up to £5bn and could become Barclays' largest shareholder with a 16.3% stake. The final stakes of both Abu Dhabi and Qatari groups could be less, though, as existing institutional investors will also be invited to take part in the fundraising.
The cash injection is coming from the royal families of Abu Dhabi and Qatar, who have both agreed to pump billions into Barclays to bolster its capital ratios. The Qataris, who already own a significant shareholding in Barclays, are providing up to £2.3bn. Once the deal goes through they will own up to 15.5% of the bank.
Sheikh Mansour Bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, will provide up to £5bn and could become Barclays' largest shareholder with a 16.3% stake. The final stakes of both Abu Dhabi and Qatari groups could be less, though, as existing institutional investors will also be invited to take part in the fundraising.