Deals
Saudi Arabia Said to Weigh Selling State-Run Entities Stakes
- Possible IPOs part of plan to reduce reliance on oil revenue
- Plan steered by the economic council headed by king's son
Is a Devaluation of the Riyal the Biggest Threat to Oil?
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As global oil prices tumble, Saudi officials are considering plans to sell shares in state-owned entities and companies, according to two people with knowledge of the discussions, in an attempt to find alternative sources of revenue.
The government may sell stakes in ports, railways, utilities and airports, the two people said. Hospitals may also be privatized, one person said. Saudi officials weren’t immediately available for comment.