Barclays’ empire in retreat as family sells off assets

09/02/24

The Times, 9/2/24

​David Scannell KC, a barrister at Brick Court Chambers, represented the government during its investigation of a Saudi investment in the Evening Standard and The Independent in 2019. He said the authorities considered both equity deals as well as transactions whereby entities “cease to be distinct in other, perhaps less obvious, ways. Naturally, uncertainty as to what remedial measures the secretary of state might in due course impose may cause trading partners and lenders to become apprehensive.

“Lenders might well become more reluctant to extend credit to a merged entity in circumstances where the structure of the entity might have to change materially, or where the commercial behaviour of the entity becomes subject to restrictions and mandates that might not otherwise have arisen, or might not otherwise been decided upon by its officers, in the course of running its business affairs.”

https://www.thetimes.co.uk/article/barclays-empire-in-retreat-as-family-sells-off-assets-7383vgrbc