Saudi’s PIF in talks to make strategic investment in major construction firms ...United Arab Emirates

Saudi Arabia’s Public Investment Fund (PIF) is in talks with four of the Kingdom’s leading construction firms, eyeing a minority stake of around 30% in them or their subsidiaries. According to a Bloomberg report, PIF is in talks with Nesma Holding, El Seif Group, Almabani General Contractors and Albawani and could potentially be investing hundreds of millions of dollars via a strategic stake in each. PIF has hired Rothschild and GIB Capital as advisers, stated the report, citing the sources. The move is said to comes in line with PIF’s five-year strategy – unveiled last year by its Chairman HRH Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Chairman of the

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