Sultan Mohamed Abuljadayel, a 42 years old Saudi national, has acquired stake in the famous British newspaper The Independent for a reported sum of $130 million.
Established in 1986, the Independent was controlled by Tony O'Reilly's Independent & Media from 1997 until Russian oligarch Alexander Lebedev invested in it in 2010. Sultan Mohamed Abuljadayel, 42, listed in company records as a Saudi-based Saudi Arabian national and has acquired up to 50 percent of the Independent. According to Middle East Eye, a source with knowledge of the deal said the investment may be as much as $130 million.
To see listing and email addresses of investors from Saudi Arabia similar to Sultan Mohamed Abuljadayel, check the Middle East Investors Directory
More details follows:
According to a spokesman for the Independent:
"The editorial independence of the Independent has been formally protected by a new agreement between the shareholders."
"To secure further strategic growth for the Independent, Independent Digital News and Media Ltd has expanded its investor base to include a minority shareholding by Sultan Abuljadayel. The new investment and the guarantee of editorial independence will allow the Independent to flourish into the future."
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