Public Investment Fund completed the acquisition of a minority stake in Zamil Offshore.

Public Investment Fund, a sovereign wealth fund, completed the acquisition of a minority stake in Zamil Offshore, a Saudi-based offshore support vessel operator and construction service provider. Financial terms were not disclosed. “The offshore support industry remains strategically important to Saudi Arabia and will continue to play a crucial role in addressing the world's energy demand. Our investment in Zamil Offshore will strengthen this vital sector, contributing to PIF’s wider efforts to develop Saudi Arabia’s energy ecosystem,” Bakr AlMuhanna, Public Investment Fund Head of Transport and Logistics Sector in MENA Investments.