Saudi Fund Set to Invest in AirAsia, Boosting Ties to Region
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Saudi Arabia's sovereign wealth fund is poised to invest about $100 million in Malaysian carrier group AirAsia, according to people familiar with the matter, strengthening the Gulf kingdom's ties with a region that's a major source of tourism.
The Public Investment Fund would play the single biggest role in an AirAsia fundraising targeted at around 1 billion ringgit ($226 million), said the people, who asked not to be named with discussions ongoing. The Malaysian airline group is in talks with other prospective investors, including from Singapore and Japan, the people added.
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