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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Saudi PIF Buys 23.97% Stake in Capital Bank Group

PIF Public Investment Fund Iraq Jordan MENA Middle East North Africa Saudi Arabia

Saudi Arabia's sovereign wealth fund, the Public Investment Fund, said on Sunday it will buy a 23.97% stake in Capital Bank Group, one of the largest banking groups in Jordan, Iraq and the Middle East and North Africa (MENA) region.

PIF will pay $185 million for the stake, by buying 63 million new shares of the bank, it said in a statement.

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