November 27, 2007
Abu Dhabi Invests $7.5 Billion in Citigroup
Citigroup is receiving a $7.5 billion investment from the investment arm of the Abu Dhabi government (ADIA); in turn, ADIA will receive convertible stock paying 11% that are required to be converted into common stock over a period of time between March 2010 and September 2011. ADIA will become Citigroup's largest shareholder, holding no more than 4.9%. Investors have been worried about Citigroup's capital levels since its "tier 1" capital level fell below its 7.5% target in the third quarter. WSJ, Abu Dhabi to Bolster Citigroup With $7.5 Billion Capital Infusion.
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