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’Saad on sale – again
This time the troubled Saudi investment group had sold 30m shares in 3i Infrastructure fund at 85p each.
Or has it?
Like Tuesday’s disposal of 16m shares in Berkeley Group, the sale has again been handled by Citigroup.
Saad goes on sale
According to traders the troubled Saudi conglomerate has offloaded a large chunk of its 28.8 per cent holding in upmarket housebuilder Berkeley Homes on Tuesday morning – 16m shares at 701p through Citigroup.
A timely Kingdom of Saudi Arabia brief
Setting aside that Saad little issue, there’s an increasingly widespread belief that the GCC region is on the mend.
With president Obama visiting Saudi Arabia, local investment bank NCB Capital have produced a 260-page briefing on the kingdom,
Saad junked
In case you missed the Moody’s downgrade of Saad on Tuesday morning, here are some selected highlights. Emphasis ours:
Moody’s Investors Service has downgraded the ratings of Saad Trading Contracting & Financial Services Company (STCFSC),