Tadawul-listed KHC buys additional stake in Citigroup from Prince Alwaleed: The Kingdom Holding Company raised its stake in Citigroup to 2.2% after acquiring a stake worth SAR 1.7 bn (c. USD 450 mn) from its chairman, Prince Alwaleed bin Talal, a disclosure by KHC to Tadawul read yesterday.

What we know: Kingdom Holding said it acquired the shares from a related party, in reference to Prince Alwaleed, bringing its current ownership in the listed bulge bracket lender to 2.2% from 1.6%. It said the “transaction supports the company’s strategic plans,” but did not provide further details.

Alwaleed and Citigroup go way back: Alwaleed’s ties with Citigroup date back to the early 1990s, where he poured in USD 590 mn to become the investment bank’s largest shareholder.

About the company: KHC identifies itself as “one of the world’s leading and most successful diversified investment holding companies delivering continuous and sustainable growth that increases long-term shareholder value,” according to its website. Prince Alwaleed currently owns a 78.1% stake in the company, with 5% of its stock trading on Tadawul.

The PIF also owns a chunk: Last year, Prince Alwaleed signed an agreement with the Public Investment Fund to sell a 17% stake in his investment firm to the sovereign fund in a USD 1.5 bn transaction.

Our very own Warren Buffett: Prince Alwaleed is one of the kingdom’s most visible investors, rising to prominence, investing in holdings ranging from the Four Seasons to Uber and X.

The story also got ink from Reuters and Bloomberg.

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