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In "SAUDI ARABIA"
Saudi Gazette reportRIYADH — The Public Investment Fund (PIF) has completed the acquisition of a 54 percent stake in the Kingdom’s leading media company, MBC Group, in a deal valued at SR7.469 billion ($2 billion).MBC announced the transaction on Thursday in a disclosure to the Saudi Exchange, confirming that Istedamah Holding Company had sold its entire stake of 179.5 million shares to PIF.The deal, executed as a negotiated private transaction, was finalized at SR41.60 per share.The acquisition, completed after securing all regulatory approvals, reflects PIF’s ongoing strategy to strengthen Saudi Arabia’s media and entertainment sector.The move aims to foster innovation, build an integrated media production ecosystem, and support long-term growth.According to the statement, the...
September 18, 2025
PIF completes $2 billion acquisition of 54% stake in MBC Group
September 18, 2025
GCC chiefs of staff hold urgent meeting to reinforce Gulf deterrence capabilities
September 18, 2025
GCC defense ministers order urgent measures after Israeli strike on Qatar
September 18, 2025
Saudi landmarks light up with Saudi and Pakistani flags after defense pact signing
September 18, 2025
MWL Chief highlights Gaza genocide at religious leaders’ congress in Kazakhstan
September 17, 2025
SAMA reduces Repo and Reverse Repo rates by 25 basis points
September 17, 2025
Tawakkalna App unveils new interface for over 34 million users
September 17, 2025
Saudi Arabia and Pakistan agree to deter any aggression jointly
September 17, 2025
Saudi Crown Prince, Pakistani PM hold talks in Riyadh
September 17, 2025
Saudi Health Council adopts new measures to combat violence within healthcare facilities