Kingdom Holding Company (KHC) chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announces that it has successfully sold its 90% interest in the Four Seasons Resort Langkawi, Malaysia to Leisure Ventures Pte Ltd. (“LVPL”), an affiliate of Hotel Properties Limited (“HPL”), a Singaporean listed company. The aggregate gross consideration paid by the purchaser for the 90% interest of KHC and the 10% interest of EHC International Limited as the minority shareholder, before the assumption of hotel level third party borrowing, is effectively $90M.
Prince Alwaleed commented: “This transaction marks yet another success for KHC’s value realization strategy from growth market investments”. Prince Alwaleed added, “KHC continues to be a stakeholder in this property through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the resort.”
Kingdom Holding Company (KHC) is one of the world’s foremost value investment firm that is internationally renowned for its interest in both high performance global brand and strategic regional interests. Based in Riyadh, Saudi Arabia, KHC is led by its Founder and Chairman, HRH Prince Alwaleed Bin Talal. Founded in 1980 and publicly traded since 2007, KHC has achieved three decades of exceptional investment success and is renowned for its diversified portfolio of global powerhouse brands and high performance regional investments.
Although one of the largest foreign investors in the United States, KHC’s disciplined investment approach stretches around the globe and includes leading market segments such as mobility solutions, digital technology and social media (Lyft, Careem, JD.com, Twitter), media and entertainment (NewsCorp, 21st Century Fox, Euro Disney S.C.A., Time Warner), and finance (Citigroup). KHC is also a global leader in luxury hotels and hospitality management with ownership or significant interests in marquee properties such as the George V in Paris, the Plaza Hotel in New York and London’s Savoy Hotel. KHC’s global hotel brands include the Four Seasons, Fairmont Raffles, Movenpick, Swissotel and Accor. In Saudi Arabia, KHC’s real estate interests include the famed Kingdom Tower in Riyadh and the highly anticipated Jeddah Tower that once completed will be the tallest tower in the world with a height exceeding 1000 meters. KHC also has investments in petrochemicals (Tasnee), education (Kingdom Schools), health care (Kingdom Hospital) and aviation (NAS Saudi Arabia).