Abu Dhabi Investment Authority (ADIA) is of the opinion that Citibank has misrepresented to them on the terms within the investment agreement they had with them. Right now, ADIA is required to purchase Citibank shares at 8 times its current market price based on the agreement. That equates to a share price of about $31.83 to $37.24. Naturally, ADIA is disappointed and has decided to sue Citibank.
It remains to be seen as to how far Citibank would be willing to subsidize ADIA's botched investment.
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