The news took very little to reach the massesInter: According to the reporter helium trumpet The Sovereign Fund of the Public Investment Fund It will be very close toObsession From the Nerazzurri club from the group SuningThe deal is finalized and will become official during the break for World Cup in Qatar.
advanced negotiation for sale from inter It was later confirmed by Sportitaliawith the director Michelle crechelo Which also gave the first figures related to the deal: the sale will take place for a total amount of between 1.2 and 1.4 billion euros. “One hundred million more, one hundred million less,” said the reporter. Yes, because when it comes to PIF, all thinking should at least be done on 9-digit sums.
What is a PIF Fund?
But what exactly is a Public Investment Fund? acronym stands for Public Investment Fund It is a sovereign fund, or a public investment fund owned by the government, in this case fromKingdom Saudi Arabiadepends on Riyadh.
He is already known in the world of football for his entry Premier League Occurred through the purchase NewcastleIt is a historical club in the north of England.
Who heads the PIF?
However, its history is much longer. The Public Investment Fund was established in 1971 to manage Saudi companies with which it has relations United kingdom. In the last decade, it began expanding its investments internationally, doubling its value to become one of the richest sovereign wealth funds in the world of finance. The current head of the Public Investment Fund is Mohammed bin Salman Al Saudor the Saudi Crown Prince, is a powerful figure as discussed for ongoing human rights abuses in Kingdom Saudi Arabiaa country in which he holds the position of Deputy Prime Minister and Minister of Defense.
How Much Money Does a PIF Have?
according to SWFIan international company that monitors and evaluates the value of sovereign wealth funds, the Public Investment Fund manages assets with a total value of 370 billion euros, a figure also confirmed by the German news agency. Reuters.
Since the Public Investment Fund began expanding its horizons, it has acquired by hand or entered with minority stakes in some of the most important companies in the world: Aramcothe first Saudi oil company, a Uber (of which a minority owns about $3.5 billion), an increase FacebookAnd the Boyeng (of which she took a stake of $717 million), DisneyAnd the Lucid Motors.
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