Saudi Arabia's sovereign wealth fund announced Thursday the sale of its majority stake in Saudi Pro League football club Al-Hilal, where French striker Karim Benzema plays. The PIF, which also owns English Premier League side Newcastle United, sold 70 percent of Al-Hilal to Kingdom Holding Company (KHC), the firm run by Prince Alwaleed bin Talal, a billionaire businessman and member of the Saudi royal family. The deal values the share capital of Al-Hilal at 1.4bn Saudi riyals ($373m).
Saudi wealth fund sells football club Al-Hilal
