(MENAFN) A consortium of major French firms led by the international investment arm of Caisse des Depots,has agreed to invest at least USD150 million in Kingdom Holding Company (KHC), Arabian Business reported.
The deal led by CDCIC International Capital constitutes the acquisition of KHC's shares with a minimum amount of USD150 million which is subject to increase, a statement said.
The number of shares and acquisition share price will be determined at a time closer to execution. The share price will be based on the trading price of the stock on the Saudi Stock Exchange.
Foreign fund inflows into Saudi Arabia have been slower than initially expected since the USD575 billion market opened up to direct foreign investment earlier this month.
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