The new stock is expected to be priced at $3.15 a share — below the $3.25 price at which the government assumed its one-third stake in Citigroup. The Treasury is now expected to retain its stake and try to sell the stock over the next 6 to 12 months.
Abu Dhabi Investment Authority had filed a multi-billion dollar arbitration claim claiming “fraudulent misrepresentation” on the part of Citigroup after the government-run fund’s $7.5 billion investment in Citigroup went south.
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