Crown jewels are generally regarded as priceless assets and are rarely for sale. But in tough times they can be all that a royal family has to sell, which is what seems to be happening today in at least three commodity-rich countries.
Three months ago the only hint of royalty offloading a few gems to maintain a regal lifestyle and carry out repairs to a palace (or two) was a suggestion that the House of Saud, the family which rules oil-rich Saudi Arabia, might be prepared to sell a slice of the country’s oil business.
Last week in Brazil, another country once ruled by a king, the country’s biggest mining company, Vale, hinted at the sale of an interest in its world-class iron ore business.
This week Russia, a third country with an interesting royal history, joined the rush to raise cash by reportedly seeking potential buyers for a stake in its government-owned oil business, Rosneft .
Three Deals Is A Trend
One proposed sale of crown jewels is interesting. Two is highly unusual. Three is definitely a trend and a pointer to the problems which are crushing the economies of countries which have become too dependent on commodities.
For the rest of this article, click here: http://www.forbes.com/sites/timtreadgold/2016/06/22/selling-the-crown-jewels-the-new-game-in-russia-brazil-and-saudi-arabia/#722496877160