Kingdom Holding Company announced its investment in M&G plc, one of the largest insurance and asset management companies in Europe, with about 1.009 billion riyals, equivalent to about 224.4 million pounds sterling.
According to Arabiya Net, Kingdom Holding said in a statement that this investment is in line with Kingdom Holding Company's investment strategy of investing in leading companies in global markets, and increases the diversification of Kingdom Holding Company in new and promising sectors.
Founded in 1848 in the United Kingdom, M&G Plc is one of the largest savings and asset management companies in Europe with more than $370 billion in asset management and serving more than 5 million clients in 28 global markets.
Kingdom Holding Company is a global investment company with assets of more than 50 billion Saudi riyals invested in 18 sectors.
