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Wednesday, 26 July 2017

Saudi Arabia hires Goldman Sachs to manage sale of stake in Riyadh airport -Reuters

In regional investment news, Saudi Arabia has reportedly hired Goldman Sachs to manage the sale of a stake in Riyadh airport, sources told Reuters. “The Saudi Civil Aviation Holding Co plans to sell a minority stake in the Riyadh’s King Khalid International Airport, the sources said, adding the stake size could be significant” and the move could be the first major privatization of an airport in Saudi Arabia. “The estimated size or value of the stake was not immediately known,” Reuters says.

Is Abu Dhabi Ports also looking at an IPO? Bloomberg reported yesterday the firm could be poised to raise over USD 1bn from equity markets and would join an ever-growing list of sovereign companies out of the UAE doing the same including Emirates Global Aluminum and the Abu Dhabi National Oil Company. ADP said this morning is has no “immediate plans” to list.

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