April 27, 2020 (United Arab Emirates)
CNBC has reported that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund of Saudi Arabia (PIF), bought a 5.7% stake worth $500 million in the American events company, Live Nation. Following the investment, PIF became the third-largest shareholder at Live Nation.
PIF has been actively investing throughout the Covid-19 pandemic, taking advantage of the plunging share prices.
Read the original article on CNBC: Saudi Arabia buys $500 million stake in coronavirus-hit Live Nation, stock jumps nearly 10%