
12-16-2009, 10:15 AM
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 | | | Join Date: Aug 2009
Posts: 3,332
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Dhabi Files Claim Against Citigroup --
Citigroup said a claim filed by the Abu Dhabi Investment Authority against the bank that seeks to either terminate an agreement to buy $7.5 billion worth of Citigroup stock or receive damages of more than $4 billion, is "entirely without merit." Abu Dhabi invested $7.5 billion in Citigroup in November 2007 and the fund received equity units that paid a high annual dividend. The units were to be converted into Citigroup common stock at up to $37.24 a share between March 15, 2010, and Sept. 15, 2011, giving the fund a 4.9% stake in Citigroup.
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