Saudi government takes $500m Live Nation stake
Saudi Arabia's Public Investment Fund has purchased 12.3m Live Nation shares, giving it a 5.7% stake in the world's biggest live entertainment company
News By IQ | 27 April 2020
The Public Investment Fund (PIF), the sovereign wealth fund of the kingdom of Saudi Arabia, has taken a 5.7% stake in Live Nation.
According to a document filed today (27 April) with the US Securities and Exchange Commission (SEC), the PIF has bought 12,337,569 shares – valued at just shy of US$500 million at the time of writing – in the world’s largest live entertainment company.
The fund is now reportedly Live Nation’s third-largest shareholder, with Liberty Media still No1 and investment company Vanguard…
You've used your free article this month
Continue reading with a free account, or subscribe for unlimited access to all of our news, features and reports.
