FILE PHOTO: Buildings are seen in Riyadh, Saudi Arabia, March 1, 2017. REUTERS/Faisal Al Nasser/File Photo
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Saudi Arabia is taking managerial control of Saudi Binladin Group and discussing a possible transfer of some of the giant construction group's assets to the state while its chairman and other family members are in detention, sources told Reuters.The Binladin group's chairman Bakr Bin Laden and several family members have been held, the sources said.Since the detention of Bin Laden family members, the finance ministry has formed a five-member committee, including three government representatives, to oversee the group's business and handle relations with suppliers and contractors, the sources said.Although ownership of Binladin currently remains with the family, the group is in negotiations with the government about the potential transfer of some assets to the state, or possibly reducing or eliminating the government's outstanding debts to Binladin, the sources said.
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