Qatar Holding Dumps $1.2B Worth Of Barclays Stock Rights

Law360, New York (November 26, 2012, 6:56 PM EST) -- Goldman Sachs Group Inc. and Deutsche Bank AG on Monday sold off nearly $1.2 billion worth of converted Barclays PLC shares for state-owned private equity firm Qatar Holding LLC, which picked up the stock rights during Barclays' controversial £11.6 billion ($18.4 billion) capital raise of 2008.

Joint bookrunners Goldman and Deutsche Bank unloaded 303.3 million ordinary Barclays shares by way of an accelerated bookbuild offering to institutional investors, according to a joint statement from the companies.

The shares went for 244 pence apiece, significantly lower than...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.