Saudi Arabia’s Public Investment Fund (PIF) has agreed to acquire a 54 percent stake in MBC Group for SAR7.5 billion ($2 billion).
The fund will buy Istedamah Holding Company’s entire stake through a private transaction priced at SAR41.60 per share, MBC Group said in a statement to the Saudi stock exchange on Sunday.
The transaction is subject to several conditions, including obtaining the necessary approvals and non-objections from the relevant entities.
The negotiated deal will be executed as per the Saudi Exchange’s (Tadawul) trading and membership procedures.
