Saudi Arabia's Wealth Fund PIF Weighs Stake in Thyssenkrupp’s Hydrogen Unit - Bloomberg
Saudi Arabia’s Public Investment Fund is considering buying a stake in Thyssenkrupp AG’s hydrogen unit as the oil-rich kingdom pivots to greener forms of energy production, people familiar with the matter said.
The sovereign wealth fund is in the early stages of studying a potential investment in the engineering conglomerate’s Nucera business, the people said, asking not to be identified discussing confidential information.
Thyssenkrupp has been preparing a listing of Nucera that could value it at as much as 5 billion euros ($5.4 billion). It plans to retain a majority stake in Nucera after any IPO, Bloomberg News reported in January.
Deliberations are ongoing, and there’s no guarantee PIF will proceed with an investment, the people said. A Thyssenkrupp spokesperson reiterated the company’s plans to pursue an IPO of Nucera, while declining to comment on potential Saudi interest. A representative for PIF declined to comment.
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