Kingdom Holding sells Fairmont stake to Qatar
Prince Alwaleed bin Talal’s investment company strikes $847 million deal with Qatari Diar.
April 5, 2010 7:14 by kippreport
Kingdom Holding, which is owned by Saudi billionaire Prince Alwaleed bin Talal, has agreed to sell a stake in Canadian hotels chain Fairmont Raffles Holdings International to Qatari Diar for $847 million, Bloomberg reported today.
Kingdom’s stake in Fairmont will drop to 35 percent after the transaction, the company said in a statement to the Saudi bourse today.
Qatari Diar – which is owned by the country’s sovereign wealth fund – and Voyager Partners will hold 40 percent of Fairmont Raffles following the deal.
More on GCC
-
Bahrain’s Batelco CEO leaves with immediate effect
-
Arabtec Says Workers End Strike
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
