TheNational, 1 Mar 2009, Wayne Arnold
ABU DHABI // Abu Dhabi’s $US7.5 billion (Dh27.54bn) investment in Citigroup, the ailing US bank, would not be affected by the latest deal to convert preferred shares into common stock, Citigroup said.
And the bank said it would continue making interest payments to the emirate.
Citigroup on Friday announced a new deal to shore up its capital base by converting $52.5bn of preferred shares into common stock, the latest in a string of efforts to keep the bank from succumbing to the global credit crisis.
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