Saudi Arabia’s sovereign wealth fund has secured an 8.2% stake in Carnival Corporation.
The acquisition of 43.5 million shares in Carnival by the Gulf state’s Public Investment Fund (PIF) was disclosed in a filing to the US Securities and Exchange Commission on Monday (6 April).
It amounts to a transaction worth in the region of $435 million according to Carnival’s share price, which closed at $10.21 on Monday.
Carnival becomes the PIF’s latest high-profile investment after investing in companies such as Oyo Hotels, Uber and Tesla.
The corporation’s brands include P&O Cruises, Cunard, Princess Cruises and Holland America Line.