French sovereign fund acquires 0.8% stake in KHC for $150 mln

06/12/2015 Argaam

France’s sovereign wealth fund Caisse des Dépôts International Capital and other major French firms have acquired on Thursday 29.9 million shares, or a 0.8 percent stake in Kingdom Holding Co. (KHC) for a total of $150 million (SAR 563 million).

 

The deal was closed at SAR 18.80 per share, the Saudi investment firm said in a statement.

 

Prince Alwaleed Bin Talal, Chairman of KHC, said he will continue to hold a 95 percent stake in the company.

 

The deal comes as part of the kingdom’s strategy to attract foreign investors, Prince Alwaleed added. 

 

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