A $ 10 billion deal between Bill Gates and Saudi Prince Alwaleed bin Talal

The company “Cascade Investment” owned by the American billionaire Bill Gates, took a majority stake in the shares of the hotel network “Four Seasons”.

The Wall Street Journal reported that Gates increased his stake in Four Seasons from 47.5% to 71.25%, buying 23.75% of the Saudi company, Kingdom Holding, as part of a deal. worth $ 2.21 billion.

Thanks to this agreement, the total estimated value of the hotel network rose to 10 billion dollars, and the final signing of the contract is expected in January 2022.

Prince Alwaleed bin Talal has agreed to sell half of his stake in Four Seasons Hotels and Resorts to US billionaire Bill Gates in a deal valued at $ 10 billion.

For its part, the Kingdom Holding Company owned by Prince Alwaleed bin Talal said in a statement: It has signed a binding definitive agreement to sell a 23.75% stake in Four Seasons Hotels Company, to a subsidiary of its strategic partner Cascade Investment Group, owned by American businessman Bill Gates.

The Four Seasons network was founded in 1960 by Canadian businessman Isador Sharp, who currently owns 5% of its shares.

The network currently includes 120 hotels and 46 residential properties in 47 countries
Source: “TASS” + above

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