Financial Times FT.com

Barclays chases £6bn Mideast cash boost

By Peter Thal Larsen and Jane Croft

Published: October 30 2008 23:34 | Last updated: October 31 2008 09:28

Barclays was Thursday night close to securing a capital injection worth around £6bn from Middle Eastern governments, including Qatar and Abu Dhabi, in a move that will allow the UK bank to boost its balance sheet without turning to the British state for cash.

Barclays executives were last night finalising the terms of the capital increase with investors including the Qatar Investment Authority and an Abu Dhabi-based sovereign wealth fund.

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