PHOTO
03 October 2016
RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, announced that it has successfully completed the sale of its ownership stake in Four Seasons Hotel Toronto.
The transaction closed on Sept. 30, 2016 for a gross consideration of C$225 million.
The property was sold to family holding entities related to Shahid Khan, founder of Flex-N-Gate Group and CEO of the Jacksonville Jaguars and the London-based Fulham Football Club.
Four Seasons Hotel Toronto opened in its new building in Yorkville, downtown Toronto, in 2012 and swiftly became the leading luxury hotel in Canada under Kingdom’s stewardship.
Prince Alwaleed commented: “This transaction marks yet another success for KHC’s value realization strategy from our high-quality hospitality investments.”
Prince Alwaleed said: “We are particularly pleased to be passing ownership of this property to Shahid Khan who is known for his passion for the Four Seasons brand.”
He added: “Kingdom Holding continues to be a stakeholder in this asset through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the hotel.”
Founded in 1980, KHC is a publicly traded company which was listed on the Saudi Stock Exchange in 2007.
RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, announced that it has successfully completed the sale of its ownership stake in Four Seasons Hotel Toronto.
The transaction closed on Sept. 30, 2016 for a gross consideration of C$225 million.
The property was sold to family holding entities related to Shahid Khan, founder of Flex-N-Gate Group and CEO of the Jacksonville Jaguars and the London-based Fulham Football Club.
Four Seasons Hotel Toronto opened in its new building in Yorkville, downtown Toronto, in 2012 and swiftly became the leading luxury hotel in Canada under Kingdom’s stewardship.
Prince Alwaleed commented: “This transaction marks yet another success for KHC’s value realization strategy from our high-quality hospitality investments.”
Prince Alwaleed said: “We are particularly pleased to be passing ownership of this property to Shahid Khan who is known for his passion for the Four Seasons brand.”
He added: “Kingdom Holding continues to be a stakeholder in this asset through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the hotel.”
Founded in 1980, KHC is a publicly traded company which was listed on the Saudi Stock Exchange in 2007.
© Arab News 2016
