Saudi Arabia’s Kingdom Holding completes deal to sell 23% stake in Four Seasons – The National
- Date: 06-Jan-2022
- Source: The National
- Sector:Economy
- Country:Saudi Arabia
Saudi Arabia’s Kingdom Holding completes deal to sell 23% stake in Four Seasons – The National
Kingdom Holding, the Saudi Arabian investment company controlled by Prince Alwaleed bin Talal, has completed a 8.29 billion Saudi riyals ($2.21bn) deal to sell half of its stake in global hospitality company Four Seasons.
The Saudi conglomerate has received cash proceeds from the transaction after the deal was approved by regulators, the company said in a statement on Wednesday to Tadawul stock exchange, where its shares are traded.
In September, Kingdom Investment Company, an affiliate of Kingdom Holding, had signed the deal to sell 23.75 per cent share in Four Seasons to FS Washington Acquisition Corporation.
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