VOL. XLI

No. 12

23-March-1998

SAUDI ARABIA

Saudi Prince Invests $150Mn In South Korea

Saudi Prince al-Walid ibn Talal has signed two memoranda of understanding (MOU) withthe Korean companies Hyundai Motor Company and Daewoo Corporation to purchasedollar-denominated convertible bonds to the value of $150mn. Prince al-Walid will purchase$100mn, 5-year convertible bonds in Daewoo and $50mn, 3-year convertible bonds in Hyundaionce they are issued. He told the International Herald Tribune that his...