Business

Saudi sovereign wealth fund buys stake in Royal’s investment company


Saudi Arabia’s sovereign wealth fund took a stake on Sunday in a company owned by billionaire Prince al-Waleed bin Talalfurther entwining the government with a top investor who has previously been detained by the state over corruption allegations.

The Public Investment Fund has agreed to pay Prince al-Waleed $1.51 billion for 16.9% of Kingdom Holding Co., a figure based on the closing price on the last trading day before the news was announced. the transaction, according to a filing with the Saudi Stock Exchange.


Wj

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.

smsmalex

Evil pop culture advocate. Alcoholaholic. Unapologetic web ninja. Coffee maven
Back to top button