PIF in talks to buy minority stakes in 4 construction firms: report

Logo of Public Investment Fund

The Public Investment Fund (PIF) is in discussions with four local construction companies, namely Nesma Holding, El Seif Group, Almabani General Contractors, and Albawani to buy minority stakes in them or their subsidiaries, Bloomberg reported, citing sources.

The sources added that the fund wants to acquire 30% of each company, noting that the talks are still at an early stage and may not result in any deal.

PIF appointed Rothschild and GIB Capital as advisers for the transaction.

The PIF may later invest in international contracting firms working on Saudi projects, the report said.

For More Mergers and Acquisitions