Tuesday 02, June 2009 by

IPIC sells Barclays shares

Barclays said it has noted the announcement by International Petroleum Investment Company (IPIC) of its intention to dispose of 1.3 billion Barclays shares for which its entire holding of Mandatorily Convertible Notes (MCNs) are exchangeable. The sale could net IPIC at least $5.7 billion according to some reports and make a profit of at least $2.4 billion from the investment.  

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