Business

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

Saudi Arabia’s sovereign wealth fund on Sunday bought a stake in a company owned by billionaire Prince al-Waleed bin Talal, further associating the government with a high-profile investor who has previously been held 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

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