Saudi wealth fund PIF to sell further stake in STC
Saudi wealth fund PIF to sell further stake in STC in potential $1.1 billion deal
Saudi Arabia's sovereign wealth fund PIF has hired Goldman Sachs and Saudi National Bank to sell around a 2% stake in the country's telecom group STC in a deal that could raise up to $1.1 billion, according to a statement from the banks.
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Newsweek contacted the Saudi Arabian Public Investment Fund, which manages the Vision 2030 projects, for comment via email.
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The deal streamlines the provision of logistical solutions for general goods via land and air transport, while also ...
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