Kingdom Holding Company Snags Ownership Stake in M&G

Posted on 07/22/2022

---

Saudi Arabia-based Kingdom Holding Company (KHC) invested 1.01 billion Saudi riyal (US$ 269 million) to acquire an ownership stake in U.K. insurance and asset management company M&G plc. The deal was revealed on July 21, 2022.

Saudi Arabia’s Prince Alwaleed bin Talal owns majority of the shares in KHC, while Saudi Arabia’s Public Investment Fund owns a stake in KHC.

Regarding the latest deal, Kingdom Holding in a filing to the Saudi Exchange said: “This investment is aligned with KHC’s investment strategy of investing in global market leaders and further diversifies KHC’s exposure in new and promising sectors.”