Saudi Wealth Fund Sells Majority Stake in Al-Hilal to Kingdom Holding Company
Saudi Arabia's Public Investment Fund (PIF) has announced the sale of a 70 percent majority stake in the Saudi Pro League football club Al-Hilal to Kingdom Holding Company (KHC). KHC is managed by Prince Alwaleed bin Talal, a prominent billionaire and member of the Saudi royal family. The transaction values Al-Hilal's share capital at 1.4 billion Saudi riyals, approximately $373 million. This divestment marks a strategic shift for the PIF, which originally acquired stakes in four major Saudi clubs, including Al-Hilal, in 2023 to boost the kingdom's sports sector. The fund stated that the sale aligns with its strategy to maximize returns and redeploy capital within the domestic economy to support broader economic diversification. Despite selling the majority stake, the PIF will remain a shareholder and continue to support the club's growth. Al-Hilal, currently featuring French striker Karim Benzema, has seen significant value growth under PIF ownership, which previously facilitated high-profile signings like Neymar. The move occurs amidst ongoing scrutiny of Saudi sports investments globally.
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Saudi Wealth Fund Sells Majority Stake in Al-Hilal to Kingdom Holding Company
Saudi Arabia's Public Investment Fund (PIF) has announced the sale of a 70 percent majority stake in the Saudi Pro League football club Al-Hilal to Kingdom Holding Company (KHC). KHC is managed by Prince Alwaleed bin Talal, a prominent billionaire and member of the Saudi royal family. The transaction values Al-Hilal's share capital at 1.4 billion Saudi riyals, approximately $373 million. This divestment marks a strategic shift for the PIF, which originally acquired stakes in four major Saudi clubs, including Al-Hilal, in 2023 to boost the kingdom's sports sector. The fund stated that the sale aligns with its strategy to maximize returns and redeploy capital within the domestic economy to support broader economic diversification. Despite selling the majority stake, the PIF will remain a shareholder and continue to support the club's growth. Al-Hilal, currently featuring French striker Karim Benzema, has seen significant value growth under PIF ownership, which previously facilitated high-profile signings like Neymar. The move occurs amidst ongoing scrutiny of Saudi sports investments globally.
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