The chairman of Kingdom Holding Saudi Prince Alwaleed bin Talal, who spent nearly three months in detention in the kingdom’s anti-corruption campaign, told that he had reached an agreement with the government for his release.
The prince declined to disclose the details of his “confirmed understanding” with authorities in the interview.
“When I say it is a confidential and secret agreement, an arrangement that is based on a confirmed understanding between me and government of Saudi Arabia, I have to respect that,” he said. The process with the government was ongoing, he said.
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The prince also said he was in talks with the country’s emerging sovereign wealth fund about co-investments in domestic projects, and that Kingdom Holding was looking at splitting its $13 billion of assets by spinning off some holdings.
Prince Alwaleed, Saudi Arabia’s most recognized business figure, was freed on January 27 after being held at Riyadh’s Ritz-Carlton, along with scores of royals, senior officials, and businessmen, on the orders of Crown Prince Mohammed bin Salman.
Reportedly he would continue to invest in Saudi Arabia. The prince said he was in discussions with the Public Investment Fund (PIF), which is chaired by the crown prince, about making joint investments inside the kingdom.
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