Saudi Arabia cashes out on Live Nation stake
The Saudi Public Investment Fund has sold its entire holding in the company, more than tripling its investment
News By James Hanley | 18 November 2024
The sovereign wealth fund of the kingdom of Saudi Arabia has sold its entire shareholding in Live Nation after more than tripling the value of its investment in less than five years. The move was disclosed in a filing with the Securities and Exchange Commission last Thursday (14 November).
The PIF took a 5.7% stake in the promoter in April 2020 – just weeks after the start of the Covid live music shutdown – when LN’s share price was below $40.
It bought 12,337,569 shares,…
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