Factbox: Major Saudi Arabian non-oil deals since 2016

OCI Holdings

25/10/2019 09:30

Oct 25 (Reuters) - Saudi Arabia has tried to attract foreign
capital into its non-oil sector and pursue investments abroad as
part of Vision 2030, an ambitious plan to diversify its
crude-reliant economy.  urn:newsml:reuters.com:*:nL5N2792WW
    The following are some of the key non-oil deals struck by
Saudi Arabia since the plan was announced in 2016:
    
    * April 2016: Saudi Arabia's sovereign Public Investment
Fund (PIF) signs a deal with Egypt to create a $16 billion
investment fund. The size of PIF's investment was not disclosed.
    * June 2016: PIF acquires a 5% stake in Uber  UBER.N  worth
$3.5 billion in the fund's first major investment in what is
widely seen as its new tech-focused strategy. 
    * November 2016: PIF invests $500 in Middle Eastern
e-commerce venture Noon.com.
    * November 2016: PIF plans to buy a 50% stake in Gulf-based
Adeptio, which controls Kuwait Food Co (Americana), in a deal
worth $2 billion, Reuters reports. No information has been
publicly disclosed about the deal.
    * May 2017: PIF pledges $45 billion to the $100 billion
SoftBank Vision Fund, a technology-focused investment fund
created along with Japan's SoftBank Group  9984.T . SoftBank's
chief executive said this year that Riyadh had shown interest in
investing in a second Vision Fund.  urn:newsml:reuters.com:*:nL4N24R04Q  urn:newsml:reuters.com:*:nL4N25326Z
    * May 2017: PIF signs a memorandum of understanding with
U.S. private equity firm Blackstone  BX.N , committing up to $20
billion to a $40 billion fund focused on U.S. infrastructure.
    * May 2017: GE  GE.N  signs $15 billion in business deals
with Saudi Arabia in a range of industries including oil and
gas, mining, and healthcare.
    * October 2017: At the inaugural Future Investment
Initiative (FII), PIF announces plans to invest $1 billion in
British billionaire Richard Branson's space firm Virgin Galactic
and sister companies The Spaceship Company and Virgin Orbit. 
    Branson last year halted talks on the Saudi investment after
the murder of Saudi journalist Jamal Khashoggi.  urn:newsml:reuters.com:*:nL8N1WR6UA
    * December 2017: PIF signs a memorandum of understanding
(MOU) with U.S.-based movie exhibition company AMC Entertainment
Holdings  AMC.N  to set up theaters in Saudi Arabia. The company
said in April that the plan was going ahead.  urn:newsml:reuters.com:*:nL1N21K02U
    * March 2018: PIF invests $461 million in Magic Leap, a
U.S.-based augmented reality startup.
    * March 2018: PIF signs an MOU with Endeavor, one of
Hollywood's biggest talent and event managers, to take a $400
million stake. Endeavor pulled out after Khashoggi's murder.
    * March 2018: SoftBank and the kingdom agree to build the
world's biggest solar power generation company, expected to
provide 200 gigawatts of power. 
    * April 2018: PIF announces an agreement with U.S. amusement
park operator Six Flags  SIX.N  to open a theme park in Qiddiya
entertainment city by 2022. No financial details were disclosed.
    * May 2018: PIF partners with others to acquire a 57.8%
stake in AccorInvest, a French hotel real estate firm, for $5.33
billion. The size of PIF's stake was not disclosed.
    * August 2018: PIF builds up an undisclosed stake of just
below 5% in U.S. electric car maker Tesla  TSLA.O , Reuters
reports.  urn:newsml:reuters.com:*:nL4N1V44RS
    * October 2018: The second FII conference is overshadowed by
the Khashoggi's murder but Riyadh signs $56 billion of deals,
although state oil giant Saudi Aramco clinched the majority.
    * January 2019: A Saudi official says the kingdom plans to
develop a $2 billion solar and carbon black integrated complex
in partnership with China's Longi and South Korea's OCI
 010060.KS . 
    * April 2019: PIF invests over $1 billion in U.S. electric
carmaker Lucid Motors.  urn:newsml:reuters.com:*:nFWN21L0JM
    * October 2019: A PIF subsidiary acquires 49% of consulting
firm Richard Attias & Associates (RAA), previously thought to be
worth tens of millions of British pounds.  urn:newsml:reuters.com:*:nL5N26R0CO
    

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Saudi Arabia faces reality check as Wall Street heads to Riyadh 
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FACTBOX-Saudi Arabia's key economic and social reforms   
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 (Compiled by Nafisa Eltahir; editing by David Clarke)
 ((Nafisa.Eltahir@thomsonreuters.com; +20 109 4966 335;))