VOL. XLV

No 44

4-November-2002

SAUDI ARABIA

Citibank Sells 2.8% Stake In Samba

Citibank has sold a 2.8% share in Saudi American Bank (Samba), taking its holding in the second largest bank in Saudi Arabia from 22.8% to 20%, according to Prince al-Walid ibn Talal, who himself owns a 7% share of Samba and a 5% share of Citibank. The shares were sold at a price of SR382 ($101.9) per share to the Saudi Pension Fund. The price of shares in Samba recently fell from SR470 ($125.3) to SR358 ($95.5) per...