MBC stock jumps 10% after the acquisition deal by the Saudi sovereign fund

The Saudi media group MBC has witnessed a major acquisition deal, as the Public Investment Fund completed the purchase of 54% of the group's shares for a total value of 7.47 billion riyals, a strategic move that enhances the fund's presence in the media sector.

MBC Group confirmed in an official statement that it received a notification from the Sustainability Holding Company, which is affiliated with the Saudi Ministry of Finance, indicating the sale of its stake of 179.5 million shares, equivalent to 54% of the group's capital, to the Public Investment Fund.

The group clarified that the deal was conducted through negotiations between the two parties, with a total value of 7.47 billion riyals, at a price of 41.60 riyals per share. The entry of the Public Investment Fund into MBC is part of the Kingdom's strategy to enhance investment in vital and promising sectors.

In trading, shares of MBC Group listed on the Saudi Stock Exchange (TADAWUL: 4072) saw a significant increase of 9.97%, equivalent to 2.92 riyals per share, trading near the level of 32.20 riyals during today's transactions. This rise reflects investor confidence in the entry of the Public Investment Fund as a major shareholder in the group.

The acquisition of the majority stake in MBC by the fund is considered a qualitative step in the development of Saudi and regional media, enhancing the sector's competitiveness and growth potential. It also reflects the Kingdom's interest in the role of media in supporting Vision 2030 and diversifying the national economy.

The deal opens the door to a new phase for MBC Group, amid expectations that it will contribute to expanding and enhancing its influence in the media landscape, with the fund's investment in content development and digital platforms to strengthen its position in the Arab and international markets.