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Pin to quick picksBarclays Share News (BARC)

Share Price Information for Barclays (BARC)

London Stock Exchange
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Share Price: 203.45
Bid: 191.00
Ask: 206.00
Change: 0.00 (0.00%)
Spread: 15.00 (7.853%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 203.45
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Abu Dhabi Shiekh sells stake in Barclays

Fri, 19th Jul 2013 10:12

Abu Dhabi's Sheikh Mansour bin Zayed Al Nahyan, who helped bailout Barclays with a 3.5bn pound investment during the worst of the financial crisis, has sold its stake in the British lender.The Sheikh's PCP Gulf Invest 3 liquidated its 758.4m Barclays shares, which represent 7.0% of the bank, as of June 20th.In October 2008, Barclays sought to avoid a state bailout so went to the Middle East in search of rescue capital. The bank secured a £7.3bn injection led by Abu Dhabi and Qatar's sovereign wealth fund.Abu Dhabi and Qatar, in return, were given discounted access to new shares and free warrants that could be converted into additional shares. The investment generated a decent profit with the share price up more than 60% during the period.PCP's decision to sell its interest reflects the steady recovery of Barclays with its share price and profitability improving. Earlier this year new Barclays boss Antony Jenkins unveiled his strategy to turn the business around with mass spending cuts and efforts to improve efficiency.The news of the sale comes after a US energy regulator said it was imposing a $470m fine on the bank for alleged market manipulation in 2006 to 2008. Barclays said it would fight the fine in court.RD
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