Riyadh – Mubasher: Kingdom Holding Company has signed a share purchase agreement to acquire a stake in US-based Breakthrough Energy Ventures from Prince Al Waleed bin Talal bin Abdulaziz Al Saud, according to a bourse filing.
The equity takeover transaction holds a total consideration of SAR 255 million, equivalent to $68 million, which reflects an agreed purchase price at a 30% discount to the estimated value.
Based on Breakthrough Energy’s latest audited financial statements, the estimated value of the acquired stake stands at $98 million, equivalent to SAR 367.50 million.
The two parties entered into the acquisition agreement on 1 April 2026, while the transaction will be financed from the Saudi company’s internal resources.
It is worth noting that Prince Alwaleed bin Talal Al Saud is the Chairman of Kingdom Holding and the largest shareholder.
Meanwhile, the US company was founded by Bill Gates and is focused on investing in innovative clean-energy and sustainability technologies aimed at enabling a low-carbon economy while developing breakthrough solutions across agriculture, buildings, electricity, manufacturing, and transportation.
Kingdom Holding, in a bourse disclosure, noted that the audited financial statements for the last three years from 2022 to 2024 of the asset included in the transaction showed that the stake being acquired by Kingdom Holding is valued at $98 million, $91.40 million, and $96.60 million, respectively.
It is worth noting that in 2025, Kingdom Holding generated net profits worth SAR 2.14 billion, and the board recommended SAR 1.03 billion worth of cash dividends for the year.
