Business

MBC Group Sells 54% Stake to Saudi PIF in $1.99 Billion Deal

By Guest Contributor

By: Haydy Abdelhamid

MBC Group has announced that it will sell a 54% stake—about 179,550,000 shares—to the Saudi Public Investment Fund (PIF). This deal is worth around 7.47 billion SAR ($1.99 billion), with a share price of 41.60 SAR, marking an important moment for the media landscape in the region.

Via Zawya

Al-Estidama Holding, a key shareholder in MBC Group, stated that this move is part of a strategy to strengthen investments in the media sector.

Once completed, the PIF will hold a majority stake in MBC Group, increasing its influence in the entertainment industry.

This transaction shows a significant financial commitment and reflects the changing ownership structure of MBC Group, allowing it to innovate and grow in a competitive market.

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Guest Contributor

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