PIF plans expansion outside Riyadh, eyes 40% stake in ACWA Power
KSA’s Public Investment Fund (PIF) plans to boost hiring and open offices in overseas markets, its Managing Director, Yasir Al Rumayyan, told investors in Abu Dhabi on Wednesday. Al Rumayyan added that the fund also plans to raise its stake in ACWA Power from 25% to 40%. The fund plans to boost its staff to 700 by the end of the year from 450 now and is seeking to open offices in London and in the United States – in the latter, initially in New York and then San Francisco.
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