Saudi wealth fund swaps debt for equity in Emaar the Economic City

Issue 1134 - 30 Sep 2021 | 1 minute read

Crown Prince Mohammed Bin Salman’s favoured vehicle the Public Investment Fund (PIF) is to acquire a 25% stake in Emaar, the Economic City, to settle a debt of SR2.8bn ($755m) that the master developer of King Abdullah Economic City owed to the Saudi sovereign wealth fund.

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