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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Profile/New Launches

Saudi Arabia to sell less than 5% of Aramco, create $2 trillion fund

Posted on 26 April 2016

Saudi Arabia said Monday it would create the world’s largest wealth fund and sell shares in state energy giant Aramco as it unveiled a vast plan to transform its oil-dependent economy.
The announcement of the long-term reform programme, dubbed “Saudi Vision 2030″, marks the beginning of a hugely ambitious attempt to move Saudi Arabia beyond oil, the backbone of its economy for decades, amid a steep fall in prices………………………………………..Full Article: Source


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