27 June 2015
RIYADH: Kingdom Holding Company (KHC), chaired byPrince Alwaleed bin Talal, announced the signing of a memorandum of understanding with Caisse des Dépôts International Capital (CDCIC) on Friday. The memorandum of understanding intends to commence discussions on the establishment of an investment fund by KHC and CDCIC which will jointly managed by both parties.
After establishment of the investment fund, each of KHC and CDCIC will contribute SR375 million ($100 million) to the fund. As a later step, third party investors will be invited to invest a total amount of SR1.13 billion ($300 million) and CDCIC has already committed to contribute SR375 million ($100 million) for such second round. After both rounds the total value of the fund will be SR1.50 billion ($400 million).
The investment strategy of the investment fund will be to seek attractive investment opportunities in small and medium size enterprises in the Kingdom of Saudi Arabia with the participation of large French corporates, in addition to diversifying KHC's investment portfolio.
This partnership between KHC and CDCIC reflects the strong economic ties between The Kingdom of Saudi Arabia and France. Furthermore, this partnership further affirms to Saudi Arabia's sound economy and KHC's strong position as a global investment company.
RIYADH: Kingdom Holding Company (KHC), chaired byPrince Alwaleed bin Talal, announced the signing of a memorandum of understanding with Caisse des Dépôts International Capital (CDCIC) on Friday. The memorandum of understanding intends to commence discussions on the establishment of an investment fund by KHC and CDCIC which will jointly managed by both parties.
After establishment of the investment fund, each of KHC and CDCIC will contribute SR375 million ($100 million) to the fund. As a later step, third party investors will be invited to invest a total amount of SR1.13 billion ($300 million) and CDCIC has already committed to contribute SR375 million ($100 million) for such second round. After both rounds the total value of the fund will be SR1.50 billion ($400 million).
The investment strategy of the investment fund will be to seek attractive investment opportunities in small and medium size enterprises in the Kingdom of Saudi Arabia with the participation of large French corporates, in addition to diversifying KHC's investment portfolio.
This partnership between KHC and CDCIC reflects the strong economic ties between The Kingdom of Saudi Arabia and France. Furthermore, this partnership further affirms to Saudi Arabia's sound economy and KHC's strong position as a global investment company.
© Arab News 2015
