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Bloomberg: Saudi Fund considering increasing stake in Jubail

Published 07/05/2018, 10:26 AM
© Reuters.  Bloomberg: Saudi Fund considering increasing stake in Jubail
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  • Saudi Arabia's sovereign wealth fund, Public Investment Fund is potentially looking to double the stake in Jubail, co-owned by ArcelorMittal (MT +4%).
  • The fund plans to inject $300M in the troubled pipe factory, and increase the stake to ~40% by buying new shares and converting debt to equity.
  • ArcelorMittal holds 40.8% stake and it will not be affected post the debt-equity swap.
  • Source: Bloomberg
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