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

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Saudi’s PIF in talks to make strategic investment in major construction firms
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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