Logo of Kingdom Holding Co. (KHC)
Kingdom Holding Co. (KHC) acquired the shares owned by Chairman Prince Alwaleed bin Talal in Citigroup for SAR 1.69 billion ($449.57 million).
Accordingly, KHC raised its stake in Citigroup to 2.2% from 1.63%, the company said in a statement to Tadawul, adding that the deal will be self-financed.
The deal was closed in line with the company’s strategic plan and normal business.
Prince Alwaleed bin Talal is a related party, KHC added.
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