KHC to buy Breakthrough Energy stake at 30% reduction

Prince Alwaleed is selling Bill Gates’ clean-tech firm to his own company: Kingdom Holding Company (KHC) inked a share purchase agreement to acquire a stake in Bill Gates-led Breakthrough Energy Ventures (BEV) from its own chairman, Prince Alwaleed bin Talal Al Saud, for USD 68 mn (SAR 255 mn), it said in a Tadawul disclosure. The stake, valued at USD 98 mn (SAR 367.5 mn) in audited 2024 accounts, was sold at a 30% reduction. KHC will fund the transaction through internal resources.

Why it matters: Prince Alwaleed is moving the Breakthrough Energy stake from his personal holdings to KHC, giving shareholders cut-rate exposure to moonshots in green hydrogen, fusion, and carbon capture. The move is part of KHC’s consolidation of the Prince’s tech wagers, including the transfer of his X shares in 2022 and the acquisition of an xAI stake in 2024.

Parsons to manage the design of Al Ittihad Sports Village

Al Ittihad Club Company tapped Parsons Corporation as project management consultant for the design of Al Ittihad Sports Village in Jeddah, the company said in a statement on Wednesday. The development, located near King Abdullah Sports City, will include the club’s headquarters, academy training pitches, performance centers, administrative buildings, and commercial assets.

Parsons is racking up a nice portfolio in the Kingdom: The US-based tech-focused is leading infrastructure design for phase one of New Murabba and holds a five-year contract for phase two of Diriyah. It has also worked with PIF on Neom’s The Line, Oxagon, Soudah Peaks, Rua Al Madina, King Salman International Airport, and AlWadi.

These companies have yet to disclose their 2025 earnings

Companies that have not yet announced their 2025 financials must do so by Wednesday, 29 April, or face trading suspension until disclosure, the exchange said in a statement.

From the Main Market: Saudi Industrial Export, Nama Chemicals, Takween Advanced Industries, Arab Sea Information System, Al Jouf Cement, Arabian Co. for Agricultural & Industrial Investment, United Cooperative Assurance, Methanol Chemicals, Aldawaa Medical Services, Raydan Food, and MEFIC REIT Fund.

From the Parallel Market: Rawasi Albina Investment, Osool and Bakheet Investment, Advance International for Communication & IT, Amwaj International, Leen Alkhair Trading, Molan Steel, and Sure Global Tech.

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