Saudi PIF Sells Portfolio Firm for $907 Million Amid Cash Quest
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Saudi Arabia’s sovereign wealth fund is selling a technology services firm for 3.4 billion riyals ($907 million), boosting its coffers as it prepares to ramp up local spending.
The Public Investment Fund will sell Thiqah Business Services Co. to Elm Co., according to a statement on Wednesday. The deal will consolidate two companies working on providing digital services in the kingdom.