UPDATE 1-Saudi sovereign fund buys minority stakes in Citi, Boeing, Facebook
May 16, 2020 at 05:08 AM EDT
Saudi Arabia's sovereign wealth fund has bought minority stakes in major American companies including Boeing, Facebook and Citigroup, according to a U.S. regulatory filing. The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in the wake of the coronavirus outbreak.