Saudi Wealth Fund eyeing minority stakes in construction firms 

  • 3/28/2022
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The report noted that the PIF is also planning to invest in international contractors that are currently operating in Saudi Arabia Saudi Arabia"s Sovereign Wealth Fund, also known as PIF, may soon invest hundreds of millions of dollars in four construction firms, Bloomberg reported, quoting people familiar with the matter. According to the report, the PIF is in talks with Nesma Holding, El Seif Group, Almabani General Contractors, and Albawani to buy minority stakes in them, or their subsidiaries. Aiming to grab stakes of about 30 percent in each company, the PIF has already hired Rothschild and GIB Capital as advisers to finalize the deals. The report noted that the PIF is also planning to invest in international contractors that are currently operating in Saudi Arabia. The talks are currently in their early stages, and until now, it have not led to any results, according to the report.

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