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Saudi- KHC-led consortium to acquire USD399m stake in China's 360buy  Join our daily free Newsletter

MENAFN - 17/02/2013

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(MENAFN) Kingdom Holding Company (KHC) announced that it will acquire a USD399 million stake in China's 360buy Jingdong Inc, the online retail firm, reported Arabian Business.

The stake will be acquired through a consortium led by the Saudi investment firm, which is chaired by Prince Alwaleed Bin Talal, with KHC investing USD125.16 million of the total.

This investment is not the first in China for Prince Alwaleed, as the Saudi billionaire has investments in the country's entertainment sector, such as Disneyland Hong Kong, and in the hotel sector through Four Seasons Hotels and Fairmont Raffles Hotel.

It is worth noting that the acquisition is in line with Kingdom Holding's private equity investment strategy, under which KHC picks high growth firms that seek to be listed in one of the international capital markets within 3 years.

 






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