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FINANCIAL NEWS
Saudi’s KHC owns 5.8 percent of AccorHotels at USD3.2bn deal
13 Jul 2016
(MENAFN) Kingdom Holding Co. (KHC) proclaimed that it has finished the combination of its Fairmont Raffles luxury hotel platform with France hospitality group ‘AccorHotels.”
Moreover, AccorHotels signed a deal with KHC, Qatar Investment Authority and Oxford Properties for the acquisition of FRHI Holdings Ltd.
Additionally, KHC is now a 5.8 percent shareholder in AccorHotels in an USD3.2bn agreement with one representative of the board of directors.
Meanwhile, KHC becomes a notable shareholder in one of the largest and most spread hospitality platforms in the world with more than 4,000 hotels.
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