Saudi Public Investment Fund said to buy 30% POSCO stake

18/05/2015 Argaam

Saudi Arabia’s Public Investment Fund (PIF) is close to reaching a deal with South Korean POSCO that would grant it a 30 percent stake in POSCO Engineering & Construction Co Ltd, Reuters reported citing South Korean newspaper Chosen Ilbo.

The deal, which is estimated to be valued at $920 million, is expected to be signed later this month, or next month at the latest.

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