Riyadh: Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Company announced Sunday the sale of its almost 30 per cent share in a press group that publishes pan-Arab newspaper Asharq Al Awsat.
Kingdom Holding said in a statement that it was selling its 29.9pc share in the Saudi Research and Marketing Group (SRMG) for 837.3 million riyals ($223m).
SRMG publishes several leading newspapers and magazines, including the London-based Asharq Al Awsat and the economic daily Al Eqtisadieh.
The statement did not specify who had bought the shares in SRMG, where one of King Salman's sons, Prince Ahmed, holds 6.8pc of the capital.
In February, Prince Alwaleed said he had reduced his stake in Rupert Murdoch's News Corporation from 6.6pc to about 1pc.
The Saudi prince holds 95pc of Kingdom Holding, a company which is listed on the Saudi stock market.
He also owns Alarab, a pan-Arab news channel, which went off the air a day after its launch in Bahrain last February following an interview it broadcast with a Shiite opposition leader.
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