Saudi Arabia Transfers Another 4% of Aramco to Wealth Fund - Bloomberg
Saudi Arabia’s government transferred a further 4% of energy giant Aramco — worth almost $80 billion — to its sovereign wealth fund.
Crown Prince Mohammed Bin Salman announced the shift in the 4% stake to the Saudi Arabian Investment Company, a unit of the Public Investment Fund, the Saudi Press Agency said. The unit is also known as Sanabil Investments.
The deal will cut the Saudi government’s direct ownership in the world’s largest energy company to 90.18%, SPA said.
Aramco said that “the transfer does not have an impact on the company’s operations, strategy, dividends distribution policy or governance framework.”
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