Secret buyer of Evening Standard

The investor in the free London newspaper Evening Standard’s parent company who used a Cayman Islands company to mask his identity is Sultan Mohamed Abuljadayel, a Saudi, who also bought two years ago a similar size stake in the Independent, the title acquired by Mr Lebedev’s father, Alexander, a former KGB officer, in 2010. Mr Abuljadayel is associated with NCB Capital, the investment banking arm of Saudi Arabia’s National Commercial Bank and the lender is majority owned by the Saudi Government through its Public Investment Fund. Mr Abuljadayel  has bought a stake of 30 per cent  for about £25m.

The newspaper edited by George Osborne, the former chancellor is majority-owned by the Lebedev Holdings, the company vehicle of Evgeny Lebedev.