{"id":36036,"date":"2024-11-04T16:21:32","date_gmt":"2024-11-04T13:21:32","guid":{"rendered":"https:\/\/entarabi.com\/?p=36036"},"modified":"2024-11-04T16:21:32","modified_gmt":"2024-11-04T13:21:32","slug":"public-investment-fund-acquires-54-stake-in-mbc-group-for-7-5-billion-sar","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/11\/public-investment-fund-acquires-54-stake-in-mbc-group-for-7-5-billion-sar\/","title":{"rendered":"Public Investment Fund Acquires 54% Stake in MBC Group for 7.5 Billion SAR"},"content":{"rendered":"<p dir=\"ltr\"><a href=\"https:\/\/www.pif.gov.sa\/en\/\" rel=\"nofollow noopener\" target=\"_blank\">The Public Investment Fund (PIF)<\/a> announced the signing of a binding agreement with Al-Istidama Holding Company to acquire a 54% stake in MBC Group, valued at 7.469 billion SAR (equivalent to 1.988 billion USD).<\/p>\n<p dir=\"ltr\">Under this agreement, Al-Istidama Holding will sell its entire stake of 179.55 million shares to the fund through a private transaction, with a share price of 41.60 SAR, bringing the total transaction value to approximately 7.4 billion SAR.<\/p>\n<p dir=\"ltr\">To finalize this deal, several conditions are expected to be met, including obtaining the necessary regulatory approvals and non-objection certificates to ensure compliance with relevant authorities.<\/p>\n<p dir=\"ltr\">Upon completion, the Public Investment Fund will hold a majority stake in MBC Group, further enhancing its investments in the media and entertainment sector.<\/p>\n<p dir=\"ltr\">It is worth noting that MBC Group witnessed a 44.8% growth in profits at the end of last year, recording annual earnings of 69 million SAR.<\/p>\n<div class=\"lisan-shadow\"><\/div>\n<div class=\"lisan-shadow\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Public Investment Fund (PIF) announced the signing of a binding agreement with Al-Istidama Holding Company to acquire a 54% stake in MBC Group, valued at 7.469 billion SAR (equivalent to 1.988 billion USD). Under this agreement, Al-Istidama Holding will sell its entire stake of 179.55 million shares to the fund through a private transaction, [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":36037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810],"tags":[6218],"class_list":["post-36036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-mbc-en"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/36036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=36036"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/36036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/36037"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=36036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=36036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=36036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}