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18/03/2018 08:18 AST
Kingdom Holding Co is reviving talks to raise about $1bn in loans, weeks after its chairman Prince Alwaleed bin Talal was released from detention, people familiar with the matter said.
The investment firm restarted talks with local and international lenders about the financing backed by its stake in Banque Saudi Fransi, the people said, asking not to be identified because the discussions are private. Talks were put on hold in November after Alwaleed was arrested as part of an anti-corruption crackdown, people said at the time.
Alwaleed, the 65th-richest person in the world, was among princes, ministers and senior officials who were held at the Ritz-Carlton for almost three months. He told Reuters in January that his detention was a "misunderstanding."
Alwaleed in September bought a 16.2% stake in Saudi Fransi from Credit Agricole SA through Kingdom Holding using "available liquidity and current credit facilities" in a deal valued at about $1.54bn.
The investment firm is now Saudi Fransi's largest shareholder, adding to an extensive portfolio that includes a Citigroup Inc stake, which the prince has held since 1991. Kingdom Holding, in which Alwaleed owns 95%, is also an investor in Twitter Inc and Accor Hotels.
Kingdom Holding shares have fallen 12% since his November 4 detention, giving the company a market capitalisation of about $9bn. A spokesman for Kingdom Holding didn't respond to requests for comment.
Gulf Times
21/03/2018
Prince Al Waleed Bin Talal, just weeks after his release from detention in Riyadh's Ritz-Carlton, is hunting for deals again and planning to reshape his investment empire.
The prince, in hi
Gulf News
09/03/2018
Kingdom Holding Company (KHC) has signed a smart city consulting agreement to design ICT infrastructure and smart services for Jeddah Tower and Jeddah Economic City Project on behalf of the Jeddah Ec
Arab News
09/02/2018
Kingdom Holding Company (KHC) has signed an electrical power agreement worth SR180 million ($48 million) with Saudi Electric Company (SEC), on behalf of the JEC partners (which includes Kingdom Holdi
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TADAWULGROUP | 165.70 | 1.70 (1.03 |
| BOURSA | 3,810.00 | 18.00 (0.47 |
| NIND | 291.00 | 2.00 (0.69 |
| GFH.KW | 182.00 | 1.00 (0.55 |
| DERAYAH | 29.56 | 0.56 (1.93 |
09/01/2026
Saudi Basic Industries Corp. is selling two overseas businesses for a combined $950 million as the world's biggest petrochemicals maker continues to streamline its portfolio and redeploy capital towa
Arab News
09/01/2026
Dukhan Bank has announced the launch of its FIFA World Cup 2026 campaign in collaboration with Visa, offering eligible Dukhan Bank Visa credit cardholders the opportunity to enter a draw for a premiu
The Peninsula
09/01/2026
National Bank of Kuwait continues promoting the "Let's Be Aware" campaign introduced by the Central Bank of Kuwait, in cooperation with local banks and Kuwait Banking Association (KBA). In this light
Kuwait Times
09/01/2026
Aramco Digital, the technology subsidiary of Saudi Aramco, is set to launch the Kingdom's national industrial communications network operating in the 450 MHz band. Designed to deliver secure, highly
Asharq Al Awsat
09/01/2026
The Extraordinary General Assembly meeting of Qatar Electricity & Water Company (QEWC) approved changing the company's commercial name to Nebras Energy.
The meeting was presided over Thursda
Gulf Times
Financial Information Co.
Saudi Arabia