Alwaleed’s Kingdom Holding acquires USD226mn stake in Lyft
Kingdom Holding Company's (KHC) board of directors has approved purchasing 4.76mn shares in the U.S. ride-hailing firm Lyft at a total value of SAR846mn (USD225.6mn), the company said in a statement to Tadawul. The purchased shares were owned by KHC's chairman, Prince Waleed Bin Talal. The deal, which will be financed by the company's own resources, will be discussed in the company's next general meeting. It came in line with KHC's strategy aimed to increase investments. The relevant financial impact will reflect on earnings of 3Q18
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