16.11.2016 - Saudi fund said to explore asset sales for overseas deals
Saudi Arabia’s sovereign wealth fund is considering selling stakes in local companies to raise funds for international expansion, according to five people with knowledge of the matter. The Public Investment Fund — with about $100 billion worth of shares in listed local companies including Saudi Basic Industries Corp. and Saudi Telecom Co. — is reviewing the stakes as it seeks to diversify its assets, the people said, asking not to be identified as the discussions are private. The fund could reduce its holdings in local companies and retain control through measures such as golden shares, one of the people said. Saudi Arabia is planning to expand its sovereign wealth fund into the world’s largest by transferring ownership of Saudi Aramco to the PIF and also the proceeds from the oil company’s initial public offering........................................Full Article: Source