Saudi sovereign fund PIF has bought a below five percent stake in Tesla: source
Saudi sovereign fund PIF has bought a below five percent stake in Tesla: source
Public Investment Fund, Saudi Arabia`s sovereign wealth fund, has bought a minority stake in Tesla at just below 5 percent, a source familiar with the matter said on Tuesday.
PIF did not immediately respond to a Reuters query for comment, while Tesla declined to comment. The source declined to be identified because the stake purchase is not public.
PIF, one the world`s biggest sovereign wealth funds with $250 billion in assets, also has a stake in Uber as it has identified technology as a key area for investment.
The Financial Times reported the stake purchase earlier.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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