PIF completed the acquisition of a 30% stake in Masdar.

PIF, a sovereign wealth fund, completed the acquisition of a 30% stake in Masdar, a building and construction materials company. Financial terms were not disclosed. "We look forward to partnering with PIF to play a vital role in supporting the growth and development of the sector by scaling up our capabilities and meeting current and upcoming demand. The construction and building components and services sector is one of the most important and promising sectors in Saudi Arabia, and PIF's investment will accelerate and unlock Masdar’s growth,” Faisal Al-Muhaidib, Masdar CEO.