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Saudi Arabia’s Kingdom Holding invests in China’s 360Buy Jingdong – Retail in Asia

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Saudi Arabia’s Kingdom Holding invests in China’s 360Buy Jingdong

Kingdom Holding, the investment firm controlled by Saudi Prince Alwaleed bin Talal, said it was part of a consortium that paid SAR1.5 billion (USD400 million) for strategic stake in an online Chinese retailer.

The value of Kingdom Holding’s investment in 360Buy Jingdong Inc. is about SAR470m, the company said in an emailed statement on Saturday. Kingdom was advised on the deal by Qatar’s QInvest.

"This deal confirms KHC’s expertise to seek rewarding global investment opportunities, and to capitalize on them in light of their potential IRR in order to extract value for KHC shareholders," said Ahmed Halawani, Kingdom’s executive director, private equity and international investments.