Saudi sovereign wealth fund PIF has reached an agreement with Saudi Basic Industries Corporation (Sabic) to acquire a 100% stake in Saudi Iron & Steel Company (Hadeed) in a deal worth SAR12.5 billion ($3.3 billion), thus creating a national steel giant.
Saudi Arabia s PIF signs $3 3bn deal with Sabic to create national steel champion thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.