The Abu Dhabi sheikh who came to the rescue of Barclays Bank with a ￡3.5bn capital injection at the height of the financial crisis has sold his stake in the UK bank.
The sale of the 7 per cent stake – which took place three weeks ago – is an important symbolic moment for Barclays five years after it came close to collapse.
In October 2008, as Barclays fought desperately to avoid a state bailout, Bob Diamond, bank president at the time, organised a whistle-stop trip to the Middle East in search of rescue capital. He succeeded, securing a ￡7.3bn injection led by Abu Dhabi and Qatar’s sovereign wealth fund.
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