StanChart's private equity arm seeks exit from Saudi construction investment -sources | Reuters:
"Standard Chartered’s private equity arm is seeking to sell its stake in a unit of Saudi Binladin Group, the construction group whose owners were entangled in Saudi Arabia’s anti-corruption purge, said three sources familiar with the matter. Construction Products Holding’s (CPC) parent company Binladin is undergoing a restructuring which will likely affect its hundreds of units, after the government took a stake in the conglomerate and formed a committee to oversee its management. Two of the sources said Standard Chartered was not comfortable with uncertainty over what the shake-up could mean for CPC, which specialises in building materials and services, in the absence of specific details about the restructuring."
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