Development News Edition
Give Feedback

Saudi sovereign fund PIF has bought a below 5 pct stake in Tesla -source

 Public Investment Fund, Saudi Arabia's sovereign wealth fund, has bought a minority stake in Tesla at just below 5 percent, a source familiar with the matter said on Tuesday.


Reuters Last Updated at 08 Aug 2018, 00:08 IST Saudi Arabia
Saudi sovereign fund PIF has bought a below 5 pct stake in Tesla -source

Public Investment Fund, Saudi Arabia's sovereign wealth fund, has bought a minority stake in Tesla at just below 5 percent, a source familiar with the matter said on Tuesday.

PIF did not immediately respond to a Reuters query for comment, while Tesla declined to comment. The source declined to be identified because the stake purchase is not public.

PIF, one the world's biggest sovereign wealth funds with $250 billion in assets, also has a stake in Uber as it has identified technology as a key area for investment.

The Financial Times reported the stake purchase earlier.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


add banner

LEAVE COMMENT

Download our Android App on Google Play