Saudi prince invested $267 million into music streaming company Deezer
Saudi billionaire Prince Alwaleed Bin Talal has invested 1 billion riyals ($267 million) into music streaming company Deezer, his first deal since being detained last year in a government crackdown on corruption.
The prince’s Kingdom Holding Co. investment vehicle and his media company Rotana Group have bought new shares in Deezer, according to a statement from Alwaleed’s office earlier in the month. Deezer will also get access to Rotana’s audio and video content as part of the deal.
This story is from the 16 August, 2018 edition of Bloomberg Businessweek Middle East.
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This story is from the 16 August, 2018 edition of Bloomberg Businessweek Middle East.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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