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22/10/2014 06:56 AST
Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC) met with Mike Corbat, CEO of Citigroup, at his office in Riyadh. Corbat delegation included Alberto Verme, Chairman EMEA Banking and Carmen Haddad, Managing Director, Corporate Finance Group.
The meeting was also attended by KHC’s executives which included Dr. Adel Alsayed, KHC Board Member and Executive Director for International and Private Equity and Mohammed Fahmy, KHC’s CFO.
Alwaleed and Corbat discussed the latest developments in Citigroup and future plans of the company.
In July 2014, Alwaleed congratulated Corbat for Citigroup’s Q2 positive results.
Alwaleed is a prominent investor in Citigroup through KHC which operates in over 160 countries in the world since 1991 and is the largest single shareholder in the company. In 2008, Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).
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SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
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