Prince Alwaleed Hosts Dinner in Honor of His Guest
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received in his office in Riyadh Mr. Mike Corbat, CEO of Citigroup on Tuesday 12th March 2013. Mr. Corbat was accompanied by a delegation that included Mr. Atiq Ur Rehman, CEO MENA, Citigroup, Mr. Alberto Verme, Chief Executive Officer of Europe, Middle East & Africa at Citigroup Inc and Ms. Carmen Haddad, Managing Director Citi Private Bank. The meeting was also attended by Eng. Ahmed Halawani, Executive Director, Private Equity and International Investments, Mr. Shadi Sanbar, KHC's Executive Director and CFO, Ms. Nada Al Sugair, Executive Director, Finance and Administration and Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman.
The meeting began as Mr. Corbat thanked Prince Alwaleed for receiving him. Moreover, the two discussed the latest developments in Citigroup and future plans of the company. Furthermore, Prince Alwaleed hosted a dinner in honor of Mr. and Mrs. Corbat at Kingdom Resort.
Prince Alwaleed has been a prominent investor in Citigroup through KHC since 1991 and is the largest single shareholder in the company. In January 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).
Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. KHC is one of the world's most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally. KHC's portfolio has its major interests in investment categories ranging from luxury hotels and real estate to media and publishing, entertainment, finance and investment services, social media and technology, consumer and retail, petrochemicals, education, private equities, health care, aviation, even agriculture. KHC is among the world's largest and most diverse investors, with regional and international holdings in many key industries. KHC is recognized as one of the largest foreign investors in the United States.
© Press Release 2013
