Saudi Prince Alwaleed Weighs New Investments, Handelsblatt Says
Saudi Arabia’s Prince Alwaleed bin Talal is negotiating three major projects as he seeks a return on investment of at least 20 percent to 25 percent, Handelsblatt reported, citing an interview.
The projects are in Saudi Arabia, the region and international, the German newspaper quoted Alwaleed as saying in comments published today. He declined to elaborate, according to the interview.
Alwaleed, the billionaire who controls the Saudi investment company Kingdom Holding Co., said he doesn’t plan to expand investment in banks beyond Citigroup Inc. (C) and won’t raise his stake in the U.S. bank, according to Handelsblatt. He said he’s increasingly investing in Saudi Arabia, which is experiencing a real-estate boom, the newspaper reported.
To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net
To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net
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