CC has secured the lead role for Barclays, fielding a team under corporate finance partner Guy Nor-man, while a swathe of other firms are acting for investors including the Qatar Investment Authority (QIA) and Sumitomo Mitsui Banking Corporation (SMBC).
The
Latham & Watkins is acting for the biggest investor, QIA, which has agreed to put up to £1.76bn into the bank. The
A&O, meanwhile, has won the lead for the third biggest investor, SMBC, which is investing up to £500m in Barclays. A&O corporate managing partner Andrew Ballheimer is leading a team from the firm’s
The other investors are Challenger, which is putting in up to £533m, and China Development Bank (CDB) and
Norton Rose corporate partner Martin Scott has taken the lead role for CDB. It is his second role advising the bank on investment into Barclays as he also advised when, along with Temasek, the bank bought into Barclays in 2007 before its failed bid for ABN Amro.
On that investment Temasek turned to Lovells but the fund has this time instructed Linklaters with
Commenting on the deal, Ballheimer said: “This is a key strategic investment by SMBC. This is a viable alternative to the traditional rights issue.”