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Cascade Investments, the investment arm of American billionaire Bill Gates, increased its stake in the Four Seasons hotel chain to 71.25%, after buying part of Kingdom Holding Company’s stake in hotels owned by Prince Alwaleed bin Talal .
The two companies have reached an agreement whereby Cascade Investments will increase its stake in Four Seasons to 71.25 from 45.5%, after purchasing the shares of Kingdom Holding, which will retain 23.75% ownership of the group.
The deal is expected to be concluded next January, for $ 2.21 billion, while the founder of the hotel chain “Isador Sharp” will keep the 5% he currently holds, while the value of the chain is about $ 10 billion.
It is worth noting that the Canadian Four Seasons was established in 1960 and has evolved over the years into a global chain of luxury hotels, which now includes 121 hotels and resorts, in addition to 46 residential buildings, in 47 countries.
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