Kingdom Holding Acquires BEV Stake for $68 Million

KINGDOM +1.73%

KINGDOM

4280.SA

9.97

+1.73%

Kingdom Holding Company announced on April 2, 2026 that it has acquired a stake in Breakthrough Energy Ventures, LLC (BEV) from Chairman Prince Alwaleed bin Talal bin Abdulaziz AlSaud for SAR 255,000,000 (USD 68,000,000). The transaction was executed at a 30% discount to the estimated stake value of USD 98 million based on BEV's latest audited financial statements. BEV is a clean-energy investment company founded by Bill Gates that focuses on breakthrough solutions across agriculture, buildings, electricity, manufacturing, and transportation. The acquisition aligns with Kingdom Holding Company's investment philosophy of providing shareholders access to unique investment opportunities in innovative and transformative technologies.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94173&anCat=1&cs=4280&locale=ar

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