Saudi Arabia's PIF, in collaboration with Morgan Stanley, explores acquiring a stake in Saudi Binladin Group, owned by the ministry of finance.
Saudi Arabia's Public Investment Fund (PIF) is reportedly working with Morgan Stanley on a potential deal to acquire a stake in the kingdom's largest construction conglomerate, Saudi Binladin Group. The PIF, a $700 billion wealth fund, is considering acquiring part or all of the 36% stake owned by the ministry of finance, as Binladin seeks to recover from years of losses and reduce its debt pile.
February 21, 2024
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