CC, Freshfields and Latham lead on billion-pound Barclays stake sale
Clifford Chance (CC), Freshfields Bruckhaus Deringer and Latham & Watkins have taken key roles on Qatar Holdings' sell-off of part of its stake in Barclays Bank. The sale - which amounts to around 50% of the warrants the Middle East investment company acquired last October - could raise in the region of £1.4bn, £750m of which will be paid to Barclays.
October 20, 2009 at 10:55 AM
2 minute read
Clifford Chance (CC), Freshfields Bruckhaus Deringer and Latham & Watkins have taken key roles on Qatar Holdings' sell-off of part of its stake in Barclays Bank.
The sale – which amounts to around 50% of the warrants the Middle East investment company acquired last October – could raise in the region of £1.4bn, £750m of which will be paid to Barclays.
CC is advising regular banking client Barclays with corporate head Guy Norman leading the team. The magic circle firm was instructed on the original transaction last year when Qatar Holdings invested £3.8bn in Barclays.
Credit Suisse, acting as bookrunner, has again turned to Freshfields for advice. The magic circle firm is fielding a team led by corporate partner Sarah Murphy.
Latham is taking the lead for Qatar Holdings, having advised on the original investment with corporate partner Nick Cline at the helm.
Last October Barclays sought investment from the Middle East after opting against a capital boost from the UK Government.
An investment vehicle controlled by Sheikh Mansour bin Zayed al Nahyan, the owner of Manchester City football club, sold a stake in the bank in June, making an estimated profit of £1.4bn, with CC, Freshfields and Shearman & Sterling all taking advisory roles.
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