Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]