Saudi PIF Acquires $1 5 Billion Stake in Prince Alwaleed s Firm albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
Saudi Arabia says it will transfer 4% of the stock in the state-run oil giant Aramco to a sovereign wealth fund. The announcement comes as the oil firm is valued at just under $2 trillion. Saudi Crown Prince Mohammed bin Salman, the assertive son of King Salman, made the decision to transfer the stock.
China readies to buy 1 percent holding in Saudi Aramco
03 May 2021, 14:40 GMT+10
RIYADH, Saudi Arabia - As Saudi Arabia prepares to sell one percent of state oil firm Aramco, sources said major Chinese investors are in talks to buy the stake, including sovereign wealth fund China Investment Corporation (CIC) and other Chinese national oil companies.
In televised remarks on Tuesday, Crown Prince Mohammed bin Salman acknowledged Saudi Arabia was in discussions to sell 1 percent of Aramco to a leading global energy company, and could sell further shares including to international investors within the next two years.
A stake of 1 percent would come to some $19 billion, based upon Aramco s current market capitalization.
Saudis appear ready to sell one percent of Aramco to Chinese
Robert Besser
03 May 2021, 14:40 GMT+10
As Saudi Arabia prepares to sell 1 percent of state oil firm Aramco, sources said major Chinese investors are in talks to buy the stake
These include sovereign wealth fund China Investment Corporation and other Chinese national oil companies
A stake of 1 percent would come to some $19 billion, based upon Aramco s current market capitalization
RIYADH, Saudi Arabia - As Saudi Arabia prepares to sell one percent of state oil firm Aramco, sources said major Chinese investors are in talks to buy the stake, including sovereign wealth fund China Investment Corporation (CIC) and other Chinese national oil companies.