Saudi PIF in talks to invest $500 mln in Hollywood's Endeavor

17/01/2018 Argaam

 

Saudi Arabia’s Public Investment Fund (PIF) is in discussions to invest more than $500 million in Endeavor, the holding company for Hollywood talent agency WME and the Miss Universe organization, Bloomberg reported, citing people familiar with the matter.

 

The deal will allow the sovereign wealth fund to own 5 to 10 percent of the company, but the valuation of the target company is being negotiated.

 

Endeavor’s existing investors include SoftBank, Singapore’s sovereign wealth fund, Canada Pension Plan Investment Board and Silver Lake, US private equity fund.

 

Last month, PIF signed a non-binding memorandum of understanding (MoU) with US-based AMC Entertainment Holdings Inc. to explore commercial opportunities in the Kingdom’s entertainment sector.

 

The agreement followed the Kingdom’s historic move to lift the ban on commercial cinemas in the country, after a 35-year hiatus. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.