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.
