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Al-Marsad Journal: The Kingdom Holding Company, owned by Prince Al-Waleed bin Talal, announced the signing of an agreement for the sale of half of its stake in the hotel chain “Four Seasons”, equivalent to 23, 75%, valued at $ 2.21 billion, to an affiliate of US billionaire Bill Gates.
You own 23.75% of the shares
Kingdom Holding, which is listed on the Saudi “Tadawul” stock exchange, said Wednesday in a statement on its website that its subsidiary would retain 23.75% of the shares of “Four Seasons” after the transaction.
She added that the sale was made to its strategic partner, the Cascade Investment Group, which is affiliated with Microsoft founder Bill Gates, a long-term investment partner of the Four Seasons hotel chain.
Expected effect of the agreement
And the company continued, “The expected impact of the deal includes cash flow of 8.29 billion riyals ($ 2.21 billion), as well as gains of 5.9 billion riyals (1, $ 57 billion) “, explaining that the book value of the stock sold is estimated at 2.25 billion riyals ($ 600 million).
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