The PIF disclosed stakes worth US$713.7mil in Boeing, about US$522mil in Citigroup, US$522mil in Facebook, US$495.8mil in Disney and US$487.6mil in Bank of America, the US Securities and Exchange Commission (SEC) filing showed last Friday.
DUBAI: Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing, Facebook and Citigroup, a regulatory filing showed, giving it a portfolio of nearly US$10bil in US-listed stocks.
The US$300bil 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.
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