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Saudi’s Kingdom Holding Co. reduces stake in Newscorp

05 Feb 2015

(MENAFN) Kingdom Holding Company (KHC) has announced the completion of a partial monetization program with respect to its stake in NewsCorp, Arab News reported.

During its portfolio review last year, KHC decided to reduce the size of its investment in NewsCorp. via an orderly disposal program that was predominantly executed in the first half of 2014 and successfully completed by the end of the year.

As a result, KHC has decreased its holding in NewsCorp. from 13,184,477 class B shares, representing around 6.6 percent ownership to 2,000,000 class B shares, representing around 1 percent ownership, generating USD188 million.

This action had no impact on KHC’s 6.6 percent holding of 21 Century fox, worth around USD1.7 billion at current market prices.

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