Abu Dhabi-backed fund backs loan to Barclay against control of Telegraph and Spectator <br/

Abu Dhabi-backed fund backs loan to Barclay against control of Telegraph and Spectator <br/

RedBird IMI confirmed on Tuesday that it is supporting the Barclay family's attempt to reclaim ownership of the Telegraph, a loan package that includes an option to let it take control of the paper.



The media investment vehicle, which is a joint venture between RedBird Capital Partners and the United Arab Emirates-based International Media Investments, said in a statement Monday that it had agreed to loan the Barclay family 600 million pounds ($750 million), secured against the Telegraph newspaper and Spectator magazine.





Separately, IMI will lend a further 600 million pounds secured against other Barclay family businesses and commercial interests.



Lloyds Banking Group Plc seized the Telegraph titles along with the Spectator magazine from the