The headquarters of the Saudi Binladin Group is seen in Jeddah, Saudi Arabia May 9, 2018. Picture taken May 9, 2018. REUTERS/Katie Paul
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Saudi businessman Khalid Nahas has been named chairman of the newly formed Binladin Group Global Holding Company -- 36.22 percent owned by Istidama, a finance ministry subsidiary, and 63.78 percent by Binladin Company for Development and Commercial Investment.Only two bin Laden brothers, Saad and Abdullah, are on the new nine-person board, the document from the kingdom's commerce ministry reveals, in a break from the family's exclusive control over its earlier company, Saudi Binladin Group.Finance Minister Mohammed al-Jadaan told Reuters in December SBG would soon have a "normal board" with family members and representatives of government ownership after a five-member committee restructured its governance.
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