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Thursday, 9 February 2017

Saudi Sovereign Fund Considers Stake in Six Flags - Bloomberg

Saudi Sovereign Fund Considers Stake in Six Flags - Bloomberg:

"Saudi Arabia’s Public Investment Fund, which is being transformed into a $2 trillion investment giant, is considering buying a stake in U.S. theme park operator Six Flags Entertainment Corp., people familiar with the matter said.

The PIF, as the sovereign wealth fund is known, is holding early deliberations about the potential investment after the kingdom started negotiations to let the Texas-based company open its first attractions in the country, said the people, who asked not to be identified as the talks are private. An agreement hasn’t been reached and the informal discussions may not result in a deal, they said.

Shares of Six Flags climbed 1.7 percent to $60.84 as of 1:53 p.m. on Wednesday in New York, giving the company a market value of about $5.6 billion. The stock climbed 24 percent in the 12 months through Tuesday.

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