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27 May

Saudi wealth fund PIF officially acquires Hadeed

Saudi Arabia chemical giant Sabic has received all approvals from the relevant authorities and fulfilled all conditions to transfer full ownership of Saudi Iron and Steel Company (Hadeed) to the country's sovereign wealth fund, the Public Investment Fund (PIF), notes Kallanish. Hadeed is valued at SAR 12.5 billion ($3.33 billion). The transaction will be conducted through a completion accounts mechanism, and the final sales price will be known once the Co…
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