Kingdom Holding to Acquire Majority Stake in Al Hilal
Kingdom Holding Company, owned by Saudi billionaire Prince Al Waleed bin Talal, has signed a binding agreement to acquire a 70 percent stake in Al Hilal, a prominent club in the Saudi Pro League. The announcement was made by Saudi Arabia’s Public Investment Fund (PIF), which has been the principal shareholder since July 2023. The deal values Al Hilal’s share capital at 1.4 billion Saudi riyals, approximately $373.20 million. This transaction aligns with the PIF’s strategy to maximize returns and recycle capital into the local economy, supporting broader initiatives to develop the sports sector and boost its contribution to the Kingdom’s GDP. Prince Al Waleed described Al Hilal as a national symbol, emphasizing sport's role in economic and social development. Currently second in the league, Al Hilal trails leader Al Nassr by eight points. The completion of the acquisition is contingent upon meeting specific conditions and securing necessary regulatory approvals. This move marks a significant shift in the ownership structure of one of Saudi Arabia's most successful football clubs, reflecting ongoing private sector involvement in the kingdom's sports privatization efforts.
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Kingdom Holding to Acquire Majority Stake in Al Hilal
Kingdom Holding Company, owned by Saudi billionaire Prince Al Waleed bin Talal, has signed a binding agreement to acquire a 70 percent stake in Al Hilal, a prominent club in the Saudi Pro League. The announcement was made by Saudi Arabia’s Public Investment Fund (PIF), which has been the principal shareholder since July 2023. The deal values Al Hilal’s share capital at 1.4 billion Saudi riyals, approximately $373.20 million. This transaction aligns with the PIF’s strategy to maximize returns and recycle capital into the local economy, supporting broader initiatives to develop the sports sector and boost its contribution to the Kingdom’s GDP. Prince Al Waleed described Al Hilal as a national symbol, emphasizing sport's role in economic and social development. Currently second in the league, Al Hilal trails leader Al Nassr by eight points. The completion of the acquisition is contingent upon meeting specific conditions and securing necessary regulatory approvals. This move marks a significant shift in the ownership structure of one of Saudi Arabia's most successful football clubs, reflecting ongoing private sector involvement in the kingdom's sports privatization efforts.
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