16.11.2016 - Saudi Fund Says It Has No Plans to Sell Off Local Equity Stakes
Saudi Arabia’s sovereign wealth fund said it has no plans to sell down the equity stakes it holds in local companies. “The Public Investment Fund has no plan or intention to reduce its equity holdings in Saudi Arabia,” the fund said in an e-mailed statement Tuesday, reacting to a Bloomberg report that it’s considering options for its holdings as it looks at ways to diversify its portfolio. The PIF, with about $100 billion worth of shares in listed local companies, is reviewing the stakes as it seeks to diversify its assets, five people with knowledge of the matter said, asking not to be identified as the discussions are private........................................Full Article: Source
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