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Monday, 14 November 2016

Exclusive: Saudi sovereign fund PIF considers buying stake in power firm ACWA - sources | Reuters

Exclusive: Saudi sovereign fund PIF considers buying stake in power firm ACWA - sources | Reuters:
"Saudi Arabia's main sovereign wealth fund, Public Investment Fund (PIF), is considering buying a stake in Riyadh-based ACWA Power, which operates power and water plants around the world, sources familiar with the matter told Reuters.

PIF, which already owns a 13.7 percent stake in ACWA indirectly through a subsidiary, invited investment banks last month to pitch for the role of advising it on a potential ACWA deal, according to four sources, declining to be named due to the sensitivity of the matter.

Talks are still at a preliminary stage, and neither party has appointed an advisor, said two of the sources, who are based in the Gulf."

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