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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 |
|---|---|---|
| OSOUL | 135.00 | -4.00 (-2.88 |
| BAYANINV | 61.70 | -0.30 (-0.49 |
| GFC | 88.00 | 0.00 (0.00 |
| TADAWULGROUP | 189.60 | -3.20 (-1.66 |
| NIND | 260.00 | 3.00 (1.16 |
09/04/2025
GE Vernova and Saudi Electricity Company (SEC) have announced the successful completion of the first gas turbine outage entirely planned and executed by GE Vernova's Saudi engineers and specialists.
Trade Arabia
09/04/2025
Estithmar Holding announces the resignation of Mohammed bin Bader Al-Sada as the Group Chief Executive Officer. The Board of Directors has appointed Juan Leon as his successor, with full executive au
The Peninsula
09/04/2025
Investcorp Capital, a major player in the private markets and alternative investment sector, has announced that it has completed the sale of its US industrial real estate portfolio for an aggregate
Trade Arabia
08/04/2025
The total assets of commercial banks operating in Qatar saw an increase in February 2025 reaching over QR2 trillion according to official data released by Qatar Central Bank (QCB), yesterday.
The Peninsula
08/04/2025
Sohar International Bank on Monday announced its intention to explore a potential merger with Ahlibank.
In a meeting held by its board of directors, Sohar International resolved to send a le
Muscat Daily
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