KSA: Prince al Waleed preparing new investments after release

Saudi Arabia’s top international investment figure Prince al Waleed Bin Talal has told Bloomberg he is planning multi-billion investments that could associate US companies.

In an interview with the New York-based media few weeks after his release from the anti-corruption crackdown, Prince al waleed, ranked 64th world richest person, revealed that he is discussing with US companies a $3 billion investment in Saudi Arabia, in a several areas including real estate.

His publicly traded investment company, Kingdom Holding co, will lead the plans.

The 63-year old Prince is likely to split the company’s $13 billion of assets through a spinoff of its domestic property and other holdings, Bloomberg reports.

The Prince has engaged advisors, including Goldman Sachs Group, to assist in raising the $3 billion in the form of a debt.

The interview with Bloomberg is his first since he was released after a nearly 90-day detention in the anti-corruption purge.

The man who has investment in Twitter, Citigroup, Four Seasons Hotels & Resort agreed monetary settlements for his release.

Over 200 people including 11 Princes, top government officials and businessmen were arrested early November in the anti-corruption crackdown, spearheaded by the powerful Crown Prince Mohamed Bin Salman.

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Posted by on Mar 20 2018. Filed under Gulf News, World News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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