Saudi public investment fund share in Life Nation 5.7%

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The Fund acquired 8.2% of Carnival Corp for cruise ships

Source: Reuters

The Saudi Public Investment Fund revealed on Monday a 5.7% stake in Live Nation Entertainment, which prompted the company’s shares to rise by up to 10%, according to “Reuters”.

According to Revinitiv data, owning 12.34 million shares makes the Saudi Public Investment Fund the third largest shareholder in the company.

Earlier this month, the fund, which manages more than $ 300 billion in assets, disclosed an 8.2% stake in Carnival Corp, which operates cruise ships suffering from the consequences of the emerging Corona virus.

Life Nation, whose shares have fallen 44% since the beginning of the year, warned of a blow to its activities due to the postponement or cancellation of offers due to the Corona virus pandemic.

Liberty Media Corp is the largest shareholder in Life Nation with a 25.05% stake, followed by Vanguard and has a 7.09% stake, according to Revinitiv data.







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