Saudi Kingdom Holding Co. Completes $200M Toronto Four Seasons Hotel Buy

Saturday, Nov 17, 2012

RIYADH (Zawya Dow Jones)-- Saudi Arabia's Kingdom Holding Co. (4280.SSE), the investment vehicle owned by Saudi Prince Al Waleed bin Talal, said Saturday it has completed the $200 million purchase of the Four Seasons Toronto Canada.

The transaction was funded by a $130 million mortgage loan with the remainder coming from its own resources, Kingdom Holding said in a statement posted on the Saudi bourse website.

Last month Kingdom holding reported a 10.2% increase in its 3Q net profit attributing this increase to higher income from investments.

Prince Alwaleed owns 95% of Kingdom Holding, according to Zawya.com. He holds sizable stakes in companies including Citigroup Inc. (C), News Corp. (NWS), Apple Inc. (AAPL) and Time Warner Inc. (TWX). News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal.

Kingdom Holding Co. closed Wednesday at SAR16.75.

Write to Iman Dawoud at iman.dawoud@dowjones.com

(END) Dow Jones Newswires

17-11-12 0716GMT