Saudi wealth fund is said to explore investing in grocer Lulu
Published 07 Oct,2020 via Bloomberg Markets - Saudi Arabia’s $360 billion sovereign wealth fund is exploring a potential investment in LuLu Group International, which runs one of the Middle East’s largest hypermarket chains, according to a person familiar with the matter.
The Public Investment Fund is considering buying a minority stake in the retailer, said the person, who asked not to be identified because the information is private. Representatives for LuLu and PIF declined to comment.
The talks were first reported by Reuters on Wednesday.
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Archana Narayanan