Exclusive: Saudi Binladin Group to be slimmed down, renamed: sources | Reuters:
"Saudi Binladin Group will be slimmed down and renamed, six sources familiar with the matter said, after the government seized management control of the construction giant from family members that were swept up in an anti-graft drive. The moves would be the first in a broad restructuring planned for Saudi Arabia’s biggest builder as Riyadh takes a stake of at least 35 percent. The company, crucial to the state’s plans for major tourism and infrastructure projects, is now being run by a five-member committee appointed by the government to oversee the shake-up."
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