Saudi Wealth Fund Near to Buying Stake in ACWA Power - Bloomberg:
"Saudi Arabia’s sovereign wealth fund is nearing an agreement to buy about a 10 percent stake in ACWA Power International ahead of an initial public offering by the Riyadh-based energy producer, according to people with knowledge of the matter.
The Public Investment Fund, known as PIF, may sign an agreement with the power plant developer in the coming days, the people said, asking not to be identified because the information is private. Talks are still ongoing and may not result in a deal, they said. It’s not immediately clear what valuation ACWA Power could get from the investment.
A spokesman for PIF declined to comment, while ACWA Power said it wasn’t in a position to comment."
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