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.


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