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Mon 7 Oct 2019 02:27 PM

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PIF subsidiary Sanabil said to acquire 49% stake in consulting firm Richard Attias

In the past, RAA has organised events including the kingdom's annual Future Investment Forum and a visit by US President Donald Trump in 2017

PIF subsidiary Sanabil said to acquire 49% stake in consulting firm Richard Attias
In the past, RAA has organised events including the kingdom’s annual Future Investment Forum.

Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund, has acquired a 49 percent stake in consulting firm Richard Attias & Associates (RAA).

The news was reported by the Saudi-based Arabic-language news financial news outlet Maal.

The deal by Sanabil – which has traditionally focused on direct equity investments in local companies – has previously been estimated to be worth tens of millions of British pounds, according to Reuters.

The Maal report cited anonymous sources.

In the past, RAA has organised events including the kingdom’s annual Future Investment Forum and a visit by US President Donald Trump in 2017.

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