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Saudi Pension Fund Buys Stake in Riyad Bank, Eqtisadiah Reports

By Glen Carey - 2012-02-15T06:39:01Z

Saudi Arabia’s Public Pension Agency bought as much as 5.5 percent of Riyad Bank (RIBL) from the kingdom’s central bank, al-Eqtisadiah newspaper reported, without saying where it got the information.

The value of the transaction was 2.35 billion riyals ($630 million), the newspaper said.

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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