03.06.2016 - Saudi’s massive Uber investment: What the analysts think
News that Saudi Arabia’s sovereign wealth fund has pumped $3.5 billion into ride-hailing app Uber – reportedly the largest single investment ever made in a private firm – is a sign of new things to come, analysts say. The massive stake in San Francisco-based Uber, which values itself at around $62.5 billion, gives the kingdom’s Public Investment Fund a share of about 5 percent. It also gives Saudi a seat on Uber’s board of directors. The announcement marks the first major foreign investment by the kingdom’s wealth fund since its April rollout of ‘Vision 2030,’ a plan to transform the country’s economy by the end of the next decade, and marks a break from a long-held focus on securing conservative, low-risk foreign assets...............................................Full Article: Source
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