PIF's Sanabil acquires 4% stake in Saudi Aramco.
Saudi Aramco's 4% stake has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund. The state remains Aramco's biggest shareholder, owning 90.18% of the company. Sanabil Investments is an investment company that commits approximately $3 billion a year to private transactions. The transfer will solidify PIF’s strong financial position and credit rating, the crown prince's statement said.
