DUBAI (Reuters) – Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing
The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in the wake of the coronavirus outbreak.
The PIF disclosed stakes worth $713.7 million in Boeing, ABOUT $522 million in Citigroup, $522 million in Facebook, $495.8 million in Disney
The PIF has a nearly $514 million stake in Marriott
The sovereign wealth fund was not immediately available to comment.
Last month its head, Yasir al-Rumayyan, said the fund was looking into investment opportunities in areas such as aviation, oil and gas, and entertainment, adding that there would be a lot of potential for investment opportunities once the coronavirus crisis passes.
ENERGY GIANTS
The PIF disclosed an 8.2% stake in coronavirus-hit Carnival Corp
The Saudi fund bought stakes in Royal Dutch Shell
The SEC filing on Friday showed it had a $483.6 million stake in Shell, a $222.3 million holding in Total and a $481 million stake in Suncor Energy
An earlier filing in Norway had shown the PIF had a 0.3% stake in oil and gas firm Equinor.
PIF already has a $2 billion stake in Uber Technologies
(Reporting by Saeed Azhar and Kanishka Singh; Editing by Pravin Char)
