LONDON – Allen & Overy LLP announced today it is advising entities representing the beneficial interests of HH Sheikh Mansour Bin Zayed Al Nahyan, a member of the Abu Dhabi Royal Family, on his GBP3.5 billion investment in Barclays plc as part of Barclays’ GBP7.3bn capital raising.
The additional capital will be used by Barclays to meet their new higher capital targets set for all UK banks by the Financial Services Authority.
HH Sheikh Mansour Bin Zayed Al Nahyan’s investment, in the form of reserve capital instruments, mandatorily convertible notes (MCNs) and warrants will, assuming full conversion of the MCNs and full exercise of the warrants, represent a beneficial entitlement to 16.3% of Barclays fully diluted share capital.
Allen & Overy advised entities representing the beneficial interests of HH Sheikh Mansour Bin Zayed Al Nahyan on UK and US capital markets, corporate, taxation and regulatory aspects of the transaction.
The Allen & Overy team was led by international capital markets partner Jonathan Mellor, assisted by senior associates Abigail Boyd, Tom Grant, James Taylor and associate Tom Wilson, and corporate partner Louise Wolfson, assisted by senior associate Ryan Barrow and associate Hugh Lauritsen, taxation partner David Hughes, assisted by senior associate Charles Yorke, regulatory partner Paul Philips in London and regulatory partner Douglas Landy and corporate partner Kenneth Rivlin in New York.
For further information please contact Alice Ball, [email protected], on +44 20 3088 2453.