PIF completed the acquisition of a 30% stake in Tamimi Markets.

Public Investment Fund, a private equity firm, completed the acquisition of a 30% stake in Tamimi Markets, a grocery chain operator. Financial terms were not disclosed. "PIF’s partnership is a significant vote of confidence in Tamimi Markets and a step forward for the Company, as we look to implement our ambitious growth plans. This partnership will enable us to accelerate and expand our store network across the region, optimizing the significant growth that is expected in this market over the next few years," Tariq AlTamimi, Tamimi Holding Chairman.