RIYADH — Kingdom Holding Company (KHC) has completed its acquisition of a 70% stake in Al Hilal Club Company from the Public Investment Fund (PIF) for SR840 million.
The transaction was completed on Tuesday after all regulatory approvals, no-objection requirements and corporate conditions were satisfied, KHC said in a disclosure to the Saudi Exchange.
Under the deal, KHC becomes Al Hilal’s principal shareholder with a 70% stake, while PIF retains the remaining 30%.
The acquisition values 100% of Al Hilal Club Company’s equity at SR1.2 billion.
KHC and PIF initially signed the share sale and purchase agreement on April 16. KHC said the full SR840 million consideration for the 70% stake has now been paid to PIF and the transaction formally completed.
Prince Alwaleed bin Talal, KHC’s founder and a prominent longtime supporter of Al Hilal, is closely associated with the club and has provided financial support and incentives to the team over the years.
Al Hilal’s board of directors, headed by Prince Nawaf bin Saad, welcomed KHC as the club’s principal shareholder and said the acquisition opens a new chapter aimed at sustaining the club’s growth and strengthening its sporting, commercial and investment capabilities.
The board also expressed its appreciation for PIF’s role in supporting Al Hilal’s institutional transformation, developing its operating framework and enhancing its operational and commercial capabilities since taking ownership of the club.
It said the new ownership structure would seek to expand Al Hilal’s domestic and international presence while preserving the club’s identity and legacy and meeting the aspirations of its supporters.
The transaction forms part of Saudi Arabia’s broader Investment and Privatization Project for Sports Clubs, launched under Vision 2030 to develop the sports industry, attract investment and create financially sustainable clubs.
Al Hilal’s board said the acquisition represents the beginning of a new phase in which the club will seek to maintain its sporting and institutional leadership while developing a sustainable sports and investment model capable of competing domestically and internationally.
Source: Saudi Gazette