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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
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10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia