The Saudi Investment Fund is negotiating to buy a stake in...

The Saudi Public Investment Fund has entered into negotiations that are still in early stages to buy a stake in the supermarket chain, Lulu Group International, two sources familiar with the matter told Reuters.

The Saudi sovereign fund is negotiating with Indian billionaire Yusuf Ali, founder of Abu Dhabi-based Lulu Group International, one of the largest commercial chains in the Gulf region.

And negotiations between the two parties began 4 to 6 weeks ago. The sources did not mention the size of the share that the Saudi Fund is seeking to buy, as the negotiations are in early stages and it is not clear if they will bear fruit or not.

The Saudi Investment Fund recently invested $ 1.5 billion in Geo Platforms, a subsidiary of Reliance Industries, owned by Indian billionaire Mukesh Ambani. It also pumped out the Emirati Mubadala

$ 1.2 billion in the company.

Related topics

Related topics

Al Qabas readers are browsing now

These were the details of the news The Saudi Investment Fund is negotiating to buy a stake in... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Flight attendants take off their clothes… why? (Video)
NEXT Hermes Research Tops Institutional Investor’s Best Frontier Market Ranking