Kingdom Holding, which is 95% owned by Saudi businessman Prince Alwaleed bin Talal, sold its stake in Karim last week for 1.25 billion riyals (equivalent to $ 333 million) ).
The company will receive 565 million riyals in cash in addition to a convertible bond of 685 million riyals in Uber Technologies that acquired Karim.
"We have 5 companies on the table under discussion and deliberation ... We hope that we will be able to reach a decision within the next eight weeks," Talal Ibrahim al-Mayman told Reuters in a telephone interview. On where to invest.
Al-Maiman added that some companies are present in Saudi Arabia and others in Europe. We are talking about 600 million dollars or so.
He went on saying, "We will not use all the cash at once, but this is the first tranche ... It is a mixture of debts and equity."
Al-Maiman said that the Kingdom Company’s investments will be directed at 70% to investments that generate income and generate dividends, and 30% to technology and potential growth companies.
Uber acquired Karim last week in a $ 3.1 billion deal before an initial public offering awaited by the market.
With your support we continue ... to provide valuable content and smart solutions for investors, to discover opportunities in the local and global markets.
To more:
