Logo of of the Saudi BinLaden Group on their headquarters in Jeddah 20 September 2001. AFP PHOTO/Mahmoud MAHMOUD
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The Saudi government is expected to take a 35-percent stake in construction giant Saudi Binladin Group as part of a financial settlement with state authorities, sources told Reuters Thursday.Officials from SBG and the government were not immediately available for comment.Family-owned SBG, which had more than 100,000 employees at its height, is the biggest builder in Saudi Arabia and is important in Riyadh's plans for large real estate, industrial and tourism projects to help diversify the kingdom's economy beyond oil.Following the detention of the bin Ladin family members, the finance ministry formed a five-member committee comprised of two other bin Ladin brothers and three independent businessmen to further restructure the firm.
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