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KHC Participates in Euro Disney’s Rights Offering by Investing EUR 35.1 Million

April 26, 2015

 

Kingdom Holding Company chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, fully participated in the rights offering of Euro Disney by investing EUR 35.1 million (SAR 150 million).

 

In October 2014, Prince Alwaleed met Mr. Tom Wolber, President of Euro Disney S.A.S, Paris and Mr. Mark Stead, CFO of Disneyland Paris.

 

During the meeting the two discussed the latest developments in both KHC and Euro Disney in which KHC holds a 10 % stake since its first investment in the company. Moreover, Prince Alwaleed and Mr. Wolber also discussed a number of general local, regional issues and the current global economic climate. They also discussed Prince Alwaleed’s investments in Euro Disney and France, and the social and economic bi-lateral relations between their respective countries.

 

In November 2014, a delegation from KHC visited Walt Disney’s HQ in Los Angeles that included Dr. Adel Alsayed, Executive Director for Private Equity, International Investments and Mr. Mohammed Fahmy, KHC’s CFO who met with Tom Staggs Chairman, Walt Disney Parks & Resorts Worldwide and Spencer Neumann, Executive Vice President and Chief Financial Officer of Walt Disney Parks and Resorts.

 

In August 2014, HE French President François Hollande and Prince Alwaleed held a meeting at the French presidential Palace, The Elysee. During the meeting Mr. Hollande and Prince Alwaleed discussed political, economic and cultural matters.

 

In June 2014, KHC and Caisse des Dépôts International Capital (CDC International Capital – CDCIC) had signed a Memorandum Of Understanding (MOU) to establish an investment vehicle jointly managed by CDCIC and KHC seeking to develop Saudi projects and ventures that shall benefit from the involvement of French companies, technologies and know how.

 

In 2012, HE French President François Hollande, and Prince Alwaleed inaugurated the new center of Islamic Art at the Musée du Louvre in Paris in the presence of Mr. Henrie Loyrette, Director of the Louvre Museum and Ms. Aurélie Filippetti, Minister of Culture and Communications during a ceremony.

 

In response to an invitation from the former President Nicolas Sarkozy of France who presided the G8 Summit for 2011, Prince Alwaleed attended the e-G8 forum that was held the eve of the G8 Summit.

 

 

In 2006, Prince Alwaleed was bestowed the medal of “Legion of Honor,” with the rank of Commander by the former French President, Jacques Chirac during an official ceremony held at the Élysée Palace. The medal is the country’s highest civilian honor, and it was bestowed to the Prince in recognition of his role in strengthening Saudi-French cultural, business and economic relations. In 2007, HRH was awarded the “Golden” medal by the French Minister of Culture and Communication.

 

KHC’s investments in France that is considered to be the largest Saudi Arabian presence in France through the ownership and management of the iconic landmark The Four Seasons Hotel George V, the management of Le Royal Monceau Hotel (Raffles), Euro Disney, Paris that was saved from bankruptcy by KHC and Walt Disney and through the presence of Citigroup. Also Price Alwaleed’s cultural contributions through Alwaleed Bin Talal Foundation that have donated US$20 million in 2005 to establish the center of Islamic Art at the Musée du Louvre.

 

The Four Seasons Hotel George V was ranked in Gallivanter’s Guide “Best City Hotel Worldwide” and “Best European City Hotel” for 11 years. Prince Alwaleed acquired the George V in 1996 for $178 million. A two-year $125 million comprehensive renovation was started in 1997. The total cost of acquiring the hotel and renovation amounted to $303 million, reflecting the Prince’s dedication to restore the glory of this landmark.