Saudi Arabia's PIF considers buying Dubai design firm Depa, sources say | Reuters
Saudi Arabia's Public Investment Fund (PIF) is considering buying Dubai-listed interior design and speciality contractor Depa Plc (DEPA.DI) to fit-out hotels under construction in the kingdom, three sources with knowledge of the matter said.
Should a deal be reached, an offer would be made to Depa's biggest shareholders and the firm would be taken private, said one of the sources, declining to be identified as the matter is not public.
PIF, which holds $430 billion of assets under management, declined to comment when contacted by Reuters on Tuesday.
Depa, listed on Nasdaq Dubai, said in a statement to the bourse it was company policy not to comment on market rumours or media speculation.
Depa would continue to make required disclosures to ensure that the market was kept informed on a timely basis as appropriate, it said.
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