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Investor disquiet over health of Saudi family firms

Posted on 15 June 2009

From Thenational.ae: When the share price of Britain’s biggest home builder, Berkeley Group Holdings, started falling last Tuesday, stock watchers may have guessed it was yet another round of bad housing news moving the market.

But by the end of the day it emerged the real cause for the slide lay thousands of kilometres away in Saudi Arabia, where Saad Group, a huge conglomerate run by the Saudi billionaire Maan al Sanea, had just instructed Citigroup to sell 16.1 million of Berkeley’s shares………Full Article: Source

 
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