Saudi Arabia’s State Investment Fund PIF Takes 54% In MBC Group

Saudi Arabia’s State Investment Fund PIF Takes 54% In MBC Group

Saudi Arabia Public Investment Fund (PIF) has taken a 54% stake in the MBC Group as it seeks to strengthen its position as a key player in the MENA region’s media and entertainment landscape. The Riyadh-based MBC Group announced that PIF had acquired a 54% in the company from Istedamah Holding Company’s (a subsidiary of the Saudi Finance Ministry) for an aggregate price of SAR 7,469 million ($1.9B), at a price of SAR 41.60 ($11) per share. P…

Saudi: PIF acquires 54% in MBC Group for $1.97bln

Under the deal, the fund acquired 179.55 million shares in MBC Group in exchange for SAR 7.46 billion, according to a bourse disclosure