Saudi PIF Builds Stake in Equinor ASA

published:09/04/2020 09:43 GMT

Saudi Arabia’s sovereign wealth fund built a stake worth about US$200 million in Equinor ASA as the kingdom navigates the impact of the coronavirus pandemic and plummeting crude prices. The Public Investment Fund amassed its holding in Norway’s largest crude producer mostly through the open market some time last week, according to people with knowledge of the matter. Though it’s not clear exactly when the PIF bought the holding and if the fund is still buying shares, the people said, asking not...More