PIF said to be in talks to acquire stake in Rocco Forte Hotels: Report
05/03/2023
Argaam
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Saudi Arabia’s Public Investment Fund (PIF) is in talks to acquire a stake in Rocco Forte Hotels in a deal estimated at nearly $1.4 billion, Bloomberg reported, citing informed sources.
PIF is likely to buy a significant minority stake in the chain, which includes a stake owned by a fund linked to Italy's state-owned Cassa Depositi e Prestiti Bank, the sources added.
The Saudi wealth fund is seen as the frontrunner, the report noted.
The talks are still ongoing and may not take place, the news agency said, adding other competitors may apply to buy the stake.
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