DUBAI/BENGALURU (Reuters) – Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing (BA.N), Facebook (FB.O) and Citigroup (C.N), a regulatory filing showed, giving it a portfolio of nearly $10 billion in U.S.-listed stocks.
FILE PHOTO – General view of Riyadh city, after the Saudi government eased a curfew, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia, May 7, 2020. REUTERS/Ahmed Yosri
The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in the wake of the coronavirus outbreak.
The PIF disclosed stakes worth $713.7 million in Boeing, ABOUT $522 million in Citigroup, $522 million in Facebook, $495.8 million in Disney (DIS.N) and $487.6 million in Bank of America (BAC.N), the U.S. Securities and Exchange Commission (SEC) filing bit.ly/3e2A01B on Friday showed.
The PIF has a nearly $514 million stake…
Source news reuters.com, click here to read the full news.
