|06 October, 2019

Saudi fund acquires 49% stake in consulting firm Richard Attias- Maaal

The stake acquired by Sanabil Investments has previously been estimated to be worth tens of billions of British pounds.

City of Jeddah, Saudi Arabia. Image used for illustrative purpose.

City of Jeddah, Saudi Arabia. Image used for illustrative purpose.

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RIYADH- A subsidiary of Saudi Arabia's sovereign wealth fund has acquired 49% of consulting firm Richard Attias & Associates (RAA), Saudi financial news website Maaal reported on Sunday.

The stake acquired by Sanabil Investments has previously been estimated to be worth tens of billions of British pounds. RAA has reportedly organised several major events in Saudi Arabia including the annual Future Investment Forum and a 2017 state visit by U.S. President Donald Trump.

(Reporting by Stephen Kalin; Editing by Toby Chopra) ((stephen.kalin@tr.com; +966554282201; Reuters Messaging: stephen.kalin.thomsonreuters.com@reuters.net))