Saudi Binladin Group Denies Takeover by Government

A Saudi Arabian construction giant says it "remains a private sector company," but admits that "some of the shareholders may have agreed to a settlement," allowing for the transfer of some shares to the government "against outstanding debts." The Saudi Binladin Group (SBG) said in a statement that it sees the move as a "positive step." SBG Chairman Bakr Bin Laden has been detained in Saudi Arabia's crackdown on corruption.  Dozens of princes and other elite businessmen were swept up in...

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