#Saudi sovereign fund buys minority stakes in Citi, Boeing, Facebook - Reuters

Saudi sovereign fund buys minority stakes in Citi, Boeing, Facebook - Reuters:

Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing (BA.N), Facebook (FB.O) and Citigroup (C.N), according to a U.S. regulatory filing.

The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in the wake of the coronavirus outbreak.

The PIF disclosed stakes worth $713.7 million in Boeing, ABOUT $522 million in Citigroup, $522 million in Facebook, $495.8 million in Disney (DIS.N) and $487.6 million in Bank of America (BAC.N), the Securities and Exchange Commission (SEC) filing bit.ly/3e2A01B on Friday showed.

The PIF has a nearly $514 million stake in Marriott (MAR.O) and a small stake in Berkshire Hathaway (BRKa.N), according to the filing. The PIF also disclosed an $827.7 million stake in oil company BP (BP.L), which has American Depository Receipts (ADRs) listed in the United States.