Kingdom Holding will invest the proceeds of its stake in cream with $ 600 million in Saudi Arabia, Europe,

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He said the Kingdom Holding Company, it will continue the sale of its stake in the company cream to investments in the kingdom of Saudi Arabia, Europe, $ 600 million.

Under the takeover deal Uber on the cream, the Kingdom Holding Company sold its stake in cream, compared to 1.25 billion riyals ($333 million) will include the Kingdom Holding to 565 million reais in cash in addition to bonds convertible to A shares $ 685 million riyals.

Revealed Talal m the CEO of Kingdom Holdings that there are five companies under discussion and deliberation hopes to reach a decision on any of them you will get on the investment during the two months coming.

He added that some companies that are studying the investment guide in Saudi Arabia, others in Europe, he explained that the total investment value of $ 600 million or so.

He also clarified that he will not use cash to pay one, but this will be the first tranche of funding and investment, and will rely on a combination of debt and property rights.

The Kingdom Holding Company, one of the first companies invested in the company cream, followed by several companies such as Group-pilot communications, Saudi Arabia and the towers group and others.

Recall that Kingdom Holding has a stake of 2.98% in the company to do the participatory approach which is considered a major rival to Uber in the United States, and also increase its investment in both the considered investment opportunity feasible.

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