RIYADH, Saudi Arabia—The central bank here transferred $40 billion to the kingdom’s wealth fund, the Saudi finance minister said, as the state-owned investor picked up minority stakes in American corporates amid the financial fallout of the coronavirus pandemic. “We are in a very unusual time. This is a very exceptional one-off transaction that came after a lot of deliberation,” Finance Minister Mohammed al-Jadaan told The Wall Street Journal late Friday by telephone.

Source: Wall Street Journal May 29, 2020 22:37 UTC