DUBAI, May 16 (Reuters) - Saudi Arabia's sovereign wealth
fund, the Public Investment Fund (PIF), has purchased minority
stakes in major U.S. companies including Boeing, Facebook
and Citigroup, according to a U.S. regulatory
filing.
PIF disclosed a $713.7 million stake in Boeing, around $522
million in Citigroup, a $522 million stake in Facebook, a
$495.8 milllion stake in Disney and a $487.6 million
stake in Bank of America, the Securities and Exchange
filing on Friday showed. It also disclosed a small stake in
Berkshire Hathaway.
PIF also disclosed an $827.7 million stake in oil company BP
, which has American Depstory Receipts (ADRs) listed in
the United States.
The $300 billion Saudi sovereign fund has been buying
minority stakes in global companies, taking advantage of market
weakness in the wake of the coronavirus outbreak.
PIF was not immediately available to comment.
Last month it disclosed an 8.2% stake in coronavirus-hit
Carnival Corp< l, sending the cruise operator's shares
nearly 30% higher.
The Saudi fund earlier this year bought stakes in Royal
Dutch Shell, Total, Eni and
Equinor, a source familiar with the transactions told
Reuters on April 9.
PIF already has stakes in Uber Technologies and
electric car company Lucid Motors.
(Reporting by Saeed Azhar and Kanishka Singh; Editing by Andrew
Heavens)