It appears WWE hired JPMorgan due to the potential sale of WWE to Saudi Arabia.
Bodyslam.net recently reported that the deal to purchase WWE is done bar formalities, with Saudi Arabia being the potential buyer.
Now, Cultaholic have added another layer to this developing story, revealing that sources claim WWE hired JPMorgan due to their operating licences in Saudi Arabia.
There does appear to be some smoke to the fire in regards to the PIF as a potential bidder for WWE, though. According to sources, JPMorgan were hired by WWE to advise on a sale because they are the only United States-based financial institution with two operating licenses in Saudi Arabia.
Cultaholic
We are the only U.S.-headquartered financial institution with two operating licenses in Saudi Arabia, providing access to a comprehensive range of products and global banking capabilities for clients in the country. We are regulated by the Saudi Arabian Monetary Authority and the Capital Market Authority.”
JPMorgan website
Clearly, WWE had a certain buyer in mind when it came to hiring JPMorgan. We will have to wait and see how this story will continue to develop.
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