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Tuesday, 29 November 2016

Saudi Arabian Wealth Fund Takes 50% Stake in Alabbar’s Adeptio - Bloomberg

Saudi Arabian Wealth Fund Takes 50% Stake in Alabbar’s Adeptio - Bloomberg:
"Saudi Arabia’s sovereign wealth fund is deepening ties with Dubai-based businessman Mohamed Alabbar by taking a 50 percent stake in his Adeptio investment vehicle.
The acquisition is part of the Public Investment Fund’s strategy to boost non-oil investments, according to a statement late Monday, which didn’t give financial details of the transaction. Adeptio is working on a takeover of fast food restaurant operator Kuwait Food Co., also known as Americana, and is set to begin a mandatory tender offer for the company’s shares after acquiring a 67 percent stake."

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