Tamimi Markets: PIF to buy 30% shares in Kingdom's leading grocery chain

RIYADH: In a bid to expand its existing portfolio and strengthen the private sector, Saudi Arabia's sovereign wealth fund has inked a deal to invest in Tamimi Markets Co., one of the leading grocery chains in the Kingdom. According to the agreement, the Public Investment Fund will become a shareholder with 30 percent ownership of Tamimi Markets by way of a capital increase and subscription of new shares.