Barclays Plc faces an 82 million euro (71 million pound) lawsuit in London as CF Partners claims the bank misused confidential information from a potential client to clinch the takeover of a Swedish carbon trading company in 2010, the Financial Times reported on Friday.
The newspaper said CF Partners, a UK-based advisory and trading firm, claimed it went to Barclays in September 2008 to see if the British lender could offer financing for a transaction with Stockholm-based Tricorona.
When the deal stalled, Barclays used the work CF had done on the value of Tricorona's carbon credits to pursue its own deal with the Swedish firm almost two years later, the FT quotes CF Partners as claiming in a lawsuit filed with the High Court last month.
CF Partners provided Barclays with a single, composite piece of information, namely the fact that Tricorona was an attractive and available takeover/purchase prospect, the claim said, according to the FT.
Officials with CF Partners and Barclays, which the FT says bought an 85 percent stake in Tricorona for 98 million pounds in July 2010, were not available for immediate comment.
(Reporting by Michelle Martin; Editing by Matt Driskill)