Saudi wealth fund said to be considering stake in Six Flags

Saudi Arabia’s Public Investment Fund (PIF) is considering acquiring a stake in NYSE-listed theme park operator Six Flags Entertainment Corp., Bloomberg reported on Wednesday, citing unnamed sources familiar with the matter.

The kingdom’s sovereign wealth fund is still in early talks for the potential investment and no decision has been taken yet. No further details were also disclosed about the deal value, as both parties couldn’t be reach for comments.

The market value of Six Flags is about $5.6 billion.

The company is expected to make earnings per share (EPS) of $1.25 and $1.89 for the fiscal years 2016 and 2017, respectively, according to estimates obtained by Argaam.

In November, the US-based theme park operator said it expects to open its first parks in Saudi Arabia by 2020 or 2021.

The new attractions will be state-owned, while Six Flags will be only entitled to execute the project’s construction works.