How bad must things be? They're so desperate for a cash infusion that they pay 11% this is the equivalent of going to Guido the Loan Shark. Where's Merrill going to go for their bail out? The House of Saud? Maybe JP can beg the Sultan of Brunei to save their ass.
Abu Dhabi Invests $7.5 Billion in Citigroup
- Thread starter Biog
- Start date
How bad must things be? They're so desperate for a cash infusion that they pay 11% this is the equivalent of going to Guido the Loan Shark. Where's Merrill going to go for their bail out? The House of Saud? Maybe JP can beg the Sultan of Brunei to save their ass.
Speaking of the IB's. Who knows what problems they are having if C is in trouble
From CNBC:
"Citi said ADIA's total ownership in its common shares would total no more than 4.9 percent of Citi's total shares outstanding.
Under terms of the agreement, ADIA will have no special rights of ownership or control and no role in the management or governance of Citi, including no right to designate a member of the board of directors. "
"Citi said ADIA's total ownership in its common shares would total no more than 4.9 percent of Citi's total shares outstanding.
Under terms of the agreement, ADIA will have no special rights of ownership or control and no role in the management or governance of Citi, including no right to designate a member of the board of directors. "
Still, a bunch of funds to be invested...Abu Dhabi just saying THANK YOU to the GREAT AMERICAN NATION this way for buying Arabic oil....don´t forget, it´s X-Mas in 4 weeeks ! Anybody complaining about this gift and USD repatriation ????
5% is the cutoff where shareholders are required to file Schedule 13-Gs and announce that they own a stake 5% or greater. If the convertibles are changed to shares, I am sure ABD wants to avoud SEC regulation for notice. Many large investors try to stay under 5% to stay under the radar once they are in stock positions. This is still a convertible bond it seems or preferred perhaps..