(Bloomberg) — Saudi Arabia’s Crown Prince Mohammed bin Salman is getting ready to put money into Credit score Suisse Group AG’s funding financial institution, the Wall Avenue Journal reported.
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Prince Mohammed might make investments round $500 million within the lender’s CS First Boston spinout, the newspaper stated, citing folks with information of the matter. Different traders may embrace former Barclays Plc chief govt Bob Diamond’s Atlas Service provider Capital, in line with the report.
Credit score Suisse Chairman Axel Lehmann stated final week that the financial institution has obtained a number of additional commitments from traders for its deliberate First Boston funding financial institution spinout.
Prince Mohammed has been encouraging Saudi Arabia’s largest corporations to broaden globally, increase the nation’s profile as a critical investor and diversify its financial system. The dominion is already backing Credit score Suisse, with Saudi Nationwide Financial institution taking a 9.9% stake within the troubled Swiss lender.
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