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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

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PIF of Saudi Arabia looks to buy stakes in four construction firms

The fund has a vision to help an estimated 180 entrepreneurs, create over 6,000 jobs in the Kingdom’s private sector, and facilitate the expansion of Saudi firms in the region.
By TRENDS Desk
March 28, 2022 6:53 pm
  • According to media reports the PIF is holding discussions with  Nesma Holding, El Seif Group, Almabani General Contractors, and Albawani to buy minority stakes in them
  • Looking to take stakes of about 30 percent in each company, the PIF has roped in Rothschild and GIB Capital as advisers to finalize the deals

The Public Investment Fund (PIF), Saudi Sovereign Wealth Fund, is in talks with four construction firms in order to make investments to the tune of millions of dollars in the companies. The talks are thought to be in early stages.

According to media reports the PIF is holding discussions with  Nesma Holding, El Seif Group, Almabani General Contractors, and Albawani to buy minority stakes in them, or their subsidiaries.

Looking to take stakes of about 30 percent in each company, the PIF has roped in 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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