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Monday, 13 March 2017

Saudi Arabia's Billionaire Olayan Family Plans Local Asset Sales - Bloomberg

Saudi Arabia's Billionaire Olayan Family Plans Local Asset Sales - Bloomberg:

"Saudi Arabia’s billionaire Olayan family, Credit Suisse Group AG’s largest shareholder, is considering selling shares in some of its local assets, according to a company spokesman.

Olayan Financing Co., which controls the family’s investments in the Middle East, may offer shares in one or more of its operating companies to the public through an initial public offering, the spokesman said by email. Olayan Financing manages more than 40 companies in the Middle East, including the regional Burger King franchise, according to its website.

The company is also considering setting up a holding company for some of its assets and may IPO that, according to people familiar with the plans. Olayan Financing is already in talks with potential financial advisers for the offering, which could happen as early as 2018, the people said, asking not to be identified as talks are private. Final decisions on which entities may be listed haven’t been made and the plans could change, they said."



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