2023-11-21 21:01:44
Par Ingrid Vergara
Published yesterday at 9:29 p.m., Updated 3 hours ago
A cover from the Daily Telegraph, in 2018. SAEED KHAN / AFP
DECRYPTION – Supported by Abu Dhabi, this joint venture has reached an agreement with the Barclay family.
The RedBird Capital Partner and IMI (International Media Investments) team is in pole position to take control of the prestigious Daily Telegraph. The joint venture of the American fund and the Abu Dhabi media investment fund has reached an agreement with the Barclay family, to provide it with the financing necessary to repay its debts with the British bank Lloyds. The latter, creditor of the Barclays to the tune of 1.2 billion pounds sterling (1.37 billion euros), has put the famous conservative daily up for sale The Daily Telegraph and the magazine The Spectator. In detail, Red Bird IMI will provide a loan of 600 million pounds, backed by the prestigious media group, and another loan, of an equivalent amount, backed by other assets of the Barclay family.
If the financing agreement is accepted by Lloyds Bank, RedBird IMI could then take control of both securities. The company has in fact announced its intention to exercise “to one…
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