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Prince Alwaleed Receives Canadian Minister of Foreign Affairs

March 21, 2012

 

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office in Riyadh on Tuesday 20th March 2012, HE Mr. John Baird Canadian Minister of Foreign Affairs and an accompanying delegation that included Mr. Robert Hage, Charge D’Affaires of Canada. The meeting was attended by Mr. Shadi Sanbar, KHC’s CFO, Mr. Mohammed AlMujadidi, Senior Executive Director, Office of HRH the Chairman, Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department and Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman.

The meeting began as Prince Alwaleed cordially received Mr. John Baird who thanked HRH for his reception. During the meeting, the two discussed a number of economic and investment issues, including the Prince’s investments in Canada through KHC. Kingdom Holding Company is the largest investor in Canada through Four Seasons Hotels and Resorts and Fairmont Raffles Hotels International (FRHI). Furthermore, Mr. Baird PM expressed that his government warmly welcomes HRH to further invest in Canada, and explore investment opportunities there. Mr. Baird also expressed his hope that His Highness’s visit will further strengthen economic bi-lateral relations between Saudi Arabia and Canada.

Kingdom Holding Company holds a 47.5% stake in the Four Seasons which is co-owned by Bill Gates’ Cascade with a 47.5% stake, and 5% is owned by Isadore Sharp.

Earlier this year, Prince Alwaleed received at his office in Riyadh, The Rt Hon. Martin Brian Mulroney former Canadian Prime Minister. In 2011, Prince Alwaleed received at his office in Riyadh, The Rt Hon. Jean Chretien former Canadian Prime Minister, and an accompanying delegation

In 2010, Prince Alwaleed received at his office in Riyadh, The Hon Peter Van Loan, Canadian Minister of International Trade and an accompanying delegation. In the same year, KHC announced an US$847 Million Transaction with Qatari Diar involving FRHI. Under the agreements, Voyager Partners Limited (Voyager) has acquired for a combination of cash and other consideration a 40% shareholding in FRHI. In addition, QD Hotel & Property Investment Limited (QDHP) has undertaken to provide FRHI with a number of future management contracts for hotels that will be branded either Fairmont, Raffles or Swissotel. In 2006, Kingdom and Colony completed the acquisition of Fairmont Hotels & Resorts which was combined with the Raffles Hotels Group. In addition, Prince Alwaleed’s investment in the banking sector in Canada via Kingdom Holding is through Citigroup.