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Barclays Lost About $100 Million on Collapsed Advent Bid

  • Bank suffered loss on FX hedges for Advent’s purchase of Sobi
  • Morgan Stanley, Deutsche Bank also took losses on the trades
Updated on

The collapse of an $8 billion biotech acquisition and a slump in the Swedish krona left Barclays Plc with a major loss last month. 

The London-based bank lost about $100 million on currency hedges after the U.S. private equity firm Advent International and Singapore’s sovereign wealth fund GIC withdrew their bid for Swedish Orphan Biovitrum AB in December, people with knowledge of the matter said.