The consortium formally withdrew its interest because of the prolonged process and current challenges
Aramco will push back the bulk of installments until after 2022 and delay the final one by three years until 2028
Aramco will pay $24.8bn this week as a first installment in the deal
The sovereign fund has spent billions of dollars this year buying equities, including stakes in BP, Boeing, Citigroup and Facebook
PIF is in need of capital as it embarks on an investment spree that has seen it build stakes in some of the world’s largest companies since the start of the coronavirus pandemic
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis, its governor said in April
The Public Investment Fund has stepped up deal-making in a bid to become the world’s biggest manager of sovereign capital
© 2020 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.