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Saudi Arabia's sovereign wealth fund is taking a $400 million stake in Endeavor, one of Hollywood's biggest talent and event managers, as part of Crown Prince Mohammad bin Salman's grand plan to diversify the kingdom's oil-based economy, according to people with knowledge of the deal.Two of the people said the fund would take a 7-percent stake in Endeavor, while another pegged it as a bit less.William Morris Endeavor Entertainment LLC was formed by the combination of William Morris and IMG.In this latest deal, the PIF is being advised by Michael Klein & Co. and Endeavor is using Ares Holdings, the people said.
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