Tag Archives: china investment corp

It seems Kuwait’s government could insert at least $1 billion in the initial public offering of Saudi Arabia state-owned oil company, Saudi Aramco. Sources familiar with the situation said that the kingdom asked its regional partners to support the share sale valued as high as $2 trillion.Until recently, the Kuwait Investment Authority had been pretty much unwilling to commit significant funds to the IPO. However, the government explained that a stake was in the country’s strategic interest,...

After the close of a successful deal, a third of Jack Ma’s online financial services provider, Ant Financial, is now owned and controlled by Alibaba Group Holding Ltd (BABA). The deal is more than a few years in the making as it was first proposed that both giant companies initiate much stronger collaborative efforts more than five years ago. Both companies were started by Ma.Originally starting as Alipay, Ant Financial was founded back in 2004 and by 2013, it had overtaken PayPal as the...