(To distinguish the stake and coin value for the Disney and Bank of America deals in the third paragraph)
DUBAI ( Reuters ) – A disclosure to the US Securities and Exchange Commission showed that the Saudi public investment fund, the kingdom’s sovereign wealth fund, bought minority stakes in major US companies including Boeing, Facebook and Citigroup.
The fund manages assets with more than 300 billion dollars, and buys minority stakes in companies around the world, taking advantage of the weakness of the market in the wake of the recent outbreak of the Corona virus..
The disclosure published Friday shows that the fund bought a $ 713.7 million stake in Boeing, an estimated $ 522 million stake in Citigroup, another $ 522 million in Facebook, and a $ 495.8 million stake in Disney and $ 487.6 million in Bank of America.
The disclosure showed that the Saudi sovereign fund has a stake of approximately $ 514 million in Marriott, a small stake in Berkshire Hathaway, and a stake of about $ 827.7 million in my company . PE Oil, which has US certificates of deposit, is listed in the United States.
It was not possible to contact any of the sovereign fund officials for comment.
Last month, the fund manager, Yasser Al-Rumayyan, said that the Public Investment Fund was inspecting opportunities to invest in areas such as aviation, oil, gas, and entertainment, noting that many investment opportunities will arise as soon as the Corona virus crisis has ended..
Giants in the energy sector
In April, the Public Investment Fund disclosed a 8.2 percent stake in Carnival Corp, which was badly affected by the Corona virus, raising the shares of this operator of cruise ships by nearly 30 percent..
A source familiar with Reuters told April 9 that the Saudi fund had bought stakes in Royal Dutch Shell, Total, Eni and Equinor this year..
Friday’s disclosure showed that he has a $ 483.6 million stake in Shell and a $ 222.3 million stake in Total. (PA: TOTF )And a stake worth 481 million in Sunkur Energy.
A previous disclosure in Norway made clear that the Public Investment Fund has a 0.3 percent stake in Equinor Oil and Gas.
The fund already owns a $ 2 billion stake in Uber Technologies and Lucid Motors Electric Vehicles.
(Press coverage by Saeed Azhar and Kanishka Singh – Prepared by Salma Najm for the Arab Bulletin – Edit by Amal Abu Al-Saud)