Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, April 17, 2020

Article Excerpt

CARNIVAL CORP., $12.56, symbol CCL on New York, is the world’s largest cruise company with more than 100 ships sailing under 10 banners. Founded in 1972, it has more than 120,000 employees serving more than 11.5 million passengers annually. The company has, however, suspended its cruises in the wake of the COVID-19 outbreak. On April 6, 2020, The Public Investment Fund of the Kingdom of Saudi Arabia filed a Schedule 13G report with the U.S. Securities and Exchange Commission (SEC) to acknowledge that the investment fund had taken an 8.2% stake in Carnival Corp. A Schedule 13G must be filed when an investor takes a stake of 5% or more in a public company and intends to acquire no more than 20%. The Saudi investment in Carnival, valued at nearly $450 million, represents a small portion of the Public Investment Fund’s total assets which are estimated at over $320 billion. At the beginning of 2020, the Fund also reported holding significant investments…

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