October 25, 2019 / 8:31 AM / a month ago

FACTBOX-Major Saudi Arabian non-oil deals since 2016

Oct 25 (Reuters) - Saudi Arabia has tried to attract foreign capital into its non-oil sector and pursue investments abroad as part of Vision 2030, an ambitious plan to diversify its crude-reliant economy.

The following are some of the key non-oil deals struck by Saudi Arabia since the plan was announced in 2016:

* April 2016: Saudi Arabia’s sovereign Public Investment Fund (PIF) signs a deal with Egypt to create a $16 billion investment fund. The size of PIF’s investment was not disclosed.

* June 2016: PIF acquires a 5% stake in Uber worth $3.5 billion in the fund’s first major investment in what is widely seen as its new tech-focused strategy.

* November 2016: PIF invests $500 in Middle Eastern e-commerce venture Noon.com.

* November 2016: PIF plans to buy a 50% stake in Gulf-based Adeptio, which controls Kuwait Food Co (Americana), in a deal worth $2 billion, Reuters reports. No information has been publicly disclosed about the deal.

* May 2017: PIF pledges $45 billion to the $100 billion SoftBank Vision Fund, a technology-focused investment fund created along with Japan’s SoftBank Group. SoftBank’s chief executive said this year that Riyadh had shown interest in investing in a second Vision Fund.

* May 2017: PIF signs a memorandum of understanding with U.S. private equity firm Blackstone, committing up to $20 billion to a $40 billion fund focused on U.S. infrastructure.

* May 2017: GE signs $15 billion in business deals with Saudi Arabia in a range of industries including oil and gas, mining, and healthcare.

* October 2017: At the inaugural Future Investment Initiative (FII), PIF announces plans to invest $1 billion in British billionaire Richard Branson’s space firm Virgin Galactic and sister companies The Spaceship Company and Virgin Orbit.

Branson last year halted talks on the Saudi investment after the murder of Saudi journalist Jamal Khashoggi.

* December 2017: PIF signs a memorandum of understanding (MOU) with U.S.-based movie exhibition company AMC Entertainment Holdings to set up theaters in Saudi Arabia. The company said in April that the plan was going ahead.

* March 2018: PIF invests $461 million in Magic Leap, a U.S.-based augmented reality startup.

* March 2018: PIF signs an MOU with Endeavor, one of Hollywood’s biggest talent and event managers, to take a $400 million stake. Endeavor pulled out after Khashoggi’s murder.

* March 2018: SoftBank and the kingdom agree to build the world’s biggest solar power generation company, expected to provide 200 gigawatts of power.

* April 2018: PIF announces an agreement with U.S. amusement park operator Six Flags to open a theme park in Qiddiya entertainment city by 2022. No financial details were disclosed.

* May 2018: PIF partners with others to acquire a 57.8% stake in AccorInvest, a French hotel real estate firm, for $5.33 billion. The size of PIF’s stake was not disclosed.

* August 2018: PIF builds up an undisclosed stake of just below 5% in U.S. electric car maker Tesla, Reuters reports.

* October 2018: The second FII conference is overshadowed by the Khashoggi’s murder but Riyadh signs $56 billion of deals, although state oil giant Saudi Aramco clinched the majority.

* January 2019: A Saudi official says the kingdom plans to develop a $2 billion solar and carbon black integrated complex in partnership with China’s Longi and South Korea’s OCI .

* April 2019: PIF invests over $1 billion in U.S. electric carmaker Lucid Motors.

* October 2019: A PIF subsidiary acquires 49% of consulting firm Richard Attias & Associates (RAA), previously thought to be worth tens of millions of British pounds.

Compiled by Nafisa Eltahir; editing by David Clarke

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