Saudi's Kingdom Holding to invest Careem proceeds in Europe, Saudi: CEO | Reuters:
Saudi Arabian investment firm Kingdom Holding will put the proceeds from the sale of its stake in ride-hailing startup Careem toward $600 million in investments in the kingdom and Europe, its chief executive told Reuters on Friday.
Kingdom, which is 95 percent owned by billionaire Price Alwaleed bin Talal, sold its stake in Careem this week for 1.25 billion riyals ($333 million). It will receive 565 million riyals in cash, plus convertible bonds in Uber Technologies worth 685 million riyals.
“We have five companies on the table that are being discussed, deliberated. Hopefully we will be able to come to a conclusion on where to invest within the next eight weeks,” Talal Ibrahim al-Maiman said in a phone interview.
No comments:
Post a Comment