Kingdom Holding revives talks to raise $1 bln loan: report

15/03/2018 Argaam

 

Kingdom Holding Co. has resumed discussions with local and international banks to raise about $1 billion in loans to buy a stake in Banque Saudi Fransi (BSF), Bloomberg reported on Thursday, citing sources familiar with the matter.

 

The plan to secure the financing was put on hold in November, following the detention of the investment firm’s owner Prince Alwaleed bin Talal in the Kingdom’s anti-corruption purge, the agency reported at the time.

 

Kingdom Holding in September bought a 16.2 percent stake in BSF, representing 195.27 million shares.

 

The shares were purchased from Credit Agricole Corporate & Investment Bank (Credit Agricole CIB) for a total value of SAR 5.76 billion, at a price of SAR 29.5 per share.

 

Kingdom Holding is now the largest shareholder in BSF, adding to a portfolio that includes stakes in Citigroup, Twitter, and Accor Hotels.

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.