Search Site

Trends banner

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.
  • 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.