Saudi Arabia's PIF, a $700bn sovereign wealth fund, is reportedly working with Morgan Stanley to acquire a stake in Saudi Binladin Group, the country's largest construction conglomerate.

Saudi Arabia's Public Investment Fund (PIF), a $700bn sovereign wealth fund, is reportedly working with Morgan Stanley to acquire a stake in Saudi Binladin Group, the country's largest construction conglomerate. The PIF is considering acquiring part or all of the 36% stake owned by the Ministry of Finance. A deal with the PIF would help Binladin Group recover from years of losses and reduce its debt pile.

February 21, 2024
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