Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Business of Sport Italy’s Serie A football league targets Middle East backers Italy’s Serie A is targeting investment opportunities from the Middle East, as the football league becomes increasingly attractive to global lenders and private equity giants. The Gulf region has sizeable interests in English football, including Saudi-backed Newcastle United and Manchester City FC, which is majority-owned by Abu Dhabi United Group. Qatar Sports Investments is also […] June 17, 2023 Banking & Finance PIF wary of crowding out private sector Saudi Arabia’s Public Investment Fund has put measures in place to ensure it does not starve the private sector of investment opportunities. “It’s of concern to everyone and it’s something we talk about a lot,” Jerry Todd, head of the National Development Division at the $700 billion sovereign wealth fund, said, adding that the PIF […] June 15, 2023 Business of Sport LIV Golf merger may face challenge from US authorities US competition authorities may intervene to prevent Saudi Arabia’s plans for a merger of two golf bodies and its own LIV Golf, under its own direction, industry experts have warned. Saudi Arabia’s LIV Golf series, backed by millions of dollars from the kingdom’s Public Investment Fund, announced on Tuesday plans to merge with the traditional […] June 9, 2023 Aviation Saudi jet lessor AviLease secures $1.1bn to expand fleet Saudi Arabia’s Public Investment Fund arm for financing of aircraft has secured $1.1 billion in its inaugural funding round. Riyadh-based Aircraft Leasing Company (AviLease) will use the unsecured five-year facility for general corporate purposes, including growing its fleet. “We have successfully closed our debut $1.1 billion unsecured term financing facility, supported by a syndicate of banking […] June 8, 2023 Analysis Business of Sport Sport privatisation next goal for Saudi Arabia Saudi Arabia has revived a blueprint for the future of sport in the kingdom as it looks to increase revenue significantly and attract more of the world’s biggest football names to its fledgling league. Crown Prince Mohammed bin Salman revealed plans this week to transform the Saudi Pro League into a SAR8 billion ($2.1 billion) […] June 7, 2023 Construction Saudi firms scrap hotel joint venture as costs spiral A planned hotel joint venture between Saudi travel giant Seera Group and the AlUla Development Company (UDC) has been scrapped due to rising costs. The two parties have agreed to terminate the contract, due to “the futility” of the planned investment in a new hotel project in Saudi Arabia. In a filing to the Saudi […] June 7, 2023 Business of Sport LIV Golf brokers peace deal with global rivals A peace deal brokered between the breakaway Saudi-led LIV Golf series and its global rivals has been hailed as a “historic” move, after months of bitter legal challenges over the future of the sport. In a shock announcement on Tuesday, it was announced the Saudi series had reached an agreement with the PGA Tour and […] June 7, 2023 Banking & Finance Mergers bloom in Mena with deals worth $26bn The acquisition by Floranow, an online florist based in the UAE, of Bloomax, the largest wholesale distributor of fresh-cut flowers in Saudi Arabia, is among the latest mergers in the Mena region. The deal, announced on Monday, is funded by a combination of debt and equity and makes Floranow the largest importer and distributor of […] June 5, 2023 Retail Saudi PIF to acquire 30% of supermarket chain Tamimi Saudi Arabia’s Public Investment Fund (PIF) has signed a share subscription agreement to acquire a 30 percent stake in the local store chain Tamimi Markets Company. The transaction will involve a capital increase and subscription for new shares, said the kingdom’s sovereign wealth fund in a statement. The investment is aimed at transforming Tamimi Markets […] June 2, 2023 Transport Shares in Saudi-backed EV maker Lucid tumble Shares in electric car manufacturer Lucid Group tumbled in pre-market trading on Thursday after Saudi Arabia-backed, loss-making company said it would issue further stock to bolster its ailing finances. Saudi Arabia has bet big on Lucid as part of its economic diversification programme, with plans afoot to build a manufacturing plant in the kingdom. Yet […] June 1, 2023 Posts navigation Previous 1 … 73 74 75 … 94 Next
Business of Sport Italy’s Serie A football league targets Middle East backers Italy’s Serie A is targeting investment opportunities from the Middle East, as the football league becomes increasingly attractive to global lenders and private equity giants. The Gulf region has sizeable interests in English football, including Saudi-backed Newcastle United and Manchester City FC, which is majority-owned by Abu Dhabi United Group. Qatar Sports Investments is also […] June 17, 2023
Banking & Finance PIF wary of crowding out private sector Saudi Arabia’s Public Investment Fund has put measures in place to ensure it does not starve the private sector of investment opportunities. “It’s of concern to everyone and it’s something we talk about a lot,” Jerry Todd, head of the National Development Division at the $700 billion sovereign wealth fund, said, adding that the PIF […] June 15, 2023
Business of Sport LIV Golf merger may face challenge from US authorities US competition authorities may intervene to prevent Saudi Arabia’s plans for a merger of two golf bodies and its own LIV Golf, under its own direction, industry experts have warned. Saudi Arabia’s LIV Golf series, backed by millions of dollars from the kingdom’s Public Investment Fund, announced on Tuesday plans to merge with the traditional […] June 9, 2023
Aviation Saudi jet lessor AviLease secures $1.1bn to expand fleet Saudi Arabia’s Public Investment Fund arm for financing of aircraft has secured $1.1 billion in its inaugural funding round. Riyadh-based Aircraft Leasing Company (AviLease) will use the unsecured five-year facility for general corporate purposes, including growing its fleet. “We have successfully closed our debut $1.1 billion unsecured term financing facility, supported by a syndicate of banking […] June 8, 2023
Analysis Business of Sport Sport privatisation next goal for Saudi Arabia Saudi Arabia has revived a blueprint for the future of sport in the kingdom as it looks to increase revenue significantly and attract more of the world’s biggest football names to its fledgling league. Crown Prince Mohammed bin Salman revealed plans this week to transform the Saudi Pro League into a SAR8 billion ($2.1 billion) […] June 7, 2023
Construction Saudi firms scrap hotel joint venture as costs spiral A planned hotel joint venture between Saudi travel giant Seera Group and the AlUla Development Company (UDC) has been scrapped due to rising costs. The two parties have agreed to terminate the contract, due to “the futility” of the planned investment in a new hotel project in Saudi Arabia. In a filing to the Saudi […] June 7, 2023
Business of Sport LIV Golf brokers peace deal with global rivals A peace deal brokered between the breakaway Saudi-led LIV Golf series and its global rivals has been hailed as a “historic” move, after months of bitter legal challenges over the future of the sport. In a shock announcement on Tuesday, it was announced the Saudi series had reached an agreement with the PGA Tour and […] June 7, 2023
Banking & Finance Mergers bloom in Mena with deals worth $26bn The acquisition by Floranow, an online florist based in the UAE, of Bloomax, the largest wholesale distributor of fresh-cut flowers in Saudi Arabia, is among the latest mergers in the Mena region. The deal, announced on Monday, is funded by a combination of debt and equity and makes Floranow the largest importer and distributor of […] June 5, 2023
Retail Saudi PIF to acquire 30% of supermarket chain Tamimi Saudi Arabia’s Public Investment Fund (PIF) has signed a share subscription agreement to acquire a 30 percent stake in the local store chain Tamimi Markets Company. The transaction will involve a capital increase and subscription for new shares, said the kingdom’s sovereign wealth fund in a statement. The investment is aimed at transforming Tamimi Markets […] June 2, 2023
Transport Shares in Saudi-backed EV maker Lucid tumble Shares in electric car manufacturer Lucid Group tumbled in pre-market trading on Thursday after Saudi Arabia-backed, loss-making company said it would issue further stock to bolster its ailing finances. Saudi Arabia has bet big on Lucid as part of its economic diversification programme, with plans afoot to build a manufacturing plant in the kingdom. Yet […] June 1, 2023
