Saudi Gazette report
RIYADH — Saudi Arabia’s Ministry of Finance has acquired an 86% stake in Saudi Binladin Group Holding after the company’s general assembly approved a capital increase through the conversion of outstanding debt into shares.
Saudi Binladin Group’s board said the shareholders’ decision reflects confidence in the company’s future direction and strategy, describing the move as a key step toward restoring financial stability and supporting the group’s development plans.

Under the restructuring, the group’s liabilities to the Ministry of Finance are estimated at about 23.3 billion Saudi riyals ($6.2 billion). The debt-to-equity conversion enables the company to settle its obligations and strengthen its financial position, while giving the ministry a direct role in supporting the group’s recovery and long-term growth.
The move follows earlier action by Saudi Arabia’s National Debt Management Center, which announced it had arranged a syndicated loan worth about 23.3 billion riyals for the Ministry of Finance with a number of local and international banks. The financing was aimed at supporting the broader debt settlement process involving Saudi Binladin Group.
The decision builds on a previous announcement by the Ministry of Finance outlining a series of measures to stabilize the group’s financial structure, including coordinated arrangements to settle outstanding bank dues in cooperation with the company.
Saudi Binladin Group, once one of the Kingdom’s largest construction firms, has undergone extensive restructuring in recent years as part of efforts to restore its operations and financial standing.