Saudi Arabia’s PIF to acquire 30% of supermarket chain Tamimi Markets – Reuters
- Date: 01-Jun-2023
- Source: Reuters
- Sector:Technology
- Country:Saudi Arabia
Saudi Arabia’s PIF to acquire 30% of supermarket chain Tamimi Markets – Reuters
DUBAI, June 1 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) plans to acquire a 30% stake in local supermarket chain Tamimi Markets Company, the kingdom's sovereign wealth fund said on Thursday.
PIF, which has more than $620 billion in assets under management, said it signed a share subscription agreement to invest in Tamimi Markets.
It said the transaction, which will involve a capital increase and subscription for new shares, aligns with the fund's strategy to enable the private sector and create Saudi national champions.
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