Saudi privatisations prove a magnet for foreign banks:
"For some banks beating a path to Saudi Arabia for the nation’s privatisation bonanza, the bounty is more than just a quick payday. They are hoping for salvation in a region that has served up more than its fair share of challenges.
Saudi Arabia became irresistible for global banks after it last year announced plans to sell off swaths of prized assets, including what is likely to be the world’s biggest initial public offering with the sale of part of oil company Saudi Aramco.
A modern-day gold rush ensued as top dealmakers jetted into Riyadh to vie for Saudi Aramco’s business and the many projects that were to follow from the Saudi Vision 2030 plan to reshape the nation’s finances to deal with lower oil prices. "
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