Saudi PIF denies investment in Penske Group

01/03/2018 Argaam

 

Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), has denied news reports about its planned investment in US-based Penske Media Group.

 

“No talks are carried out in this regard, the news is incorrect,” an official source at the Fund said.

 

The New York Post reported on Wednesday that the PIF invested $200 million into Penske Media Group, which owns trade publications in the US such as Variety and Women’s Wear Daily. 

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