VOL. XXXVIII

NO. 39

26-JUNE-1995

Saudi Arabia

Consortium Led By Prince Al-Walid Acquires 50% Of NIC

A consortium led by the Saudi billionaire, Prince al-Walid ibn Talal, hasacquired 50% of the 12mn shares of the National Industrialization Company (NIC),the joint stock company founded in 1985 to establish advanced industries in thefields of chemicals, petrochemicals, and electrical and mechanical engineeringin the Kingdom and the Gulf region. According to a statement issued by theUnited Saudi...