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FINANCIAL NEWS
Saudi KHC gives up its stakes in two Four Seasons hotels
15 Jan 2012
(MENAFN) Saudi Prince Alwaleed Bin Talal, head of investment giant Kingdom Holding Company, announced the sale of the company’s shares in two Four Seasons hotels for USDUSD93 million, Arabian Business reported.
The company sold its 82 percent stake in the Four Seasons Hotel, Jakarta and its 96 percent stake in the M?pick Dar es Salaam. The deal was closed in the fourth quarter 2011.
In December, Kingdom Holding invested USD300 million to in popular social networking site “Twitter”, after months of negotiations.
In October, Kingdom Holding reported a third-quarter profit had growth by 23.6 percent to USD52.7 million from a year earlier.
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