Home / Press & Media / Investor News / Prince Alwaleed Receives Canadian Minister of International Trade to Discuss Investment Issues

Prince Alwaleed Receives Canadian Minister of International Trade to Discuss Investment Issues

October 17, 2010

HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) recently received at his office in Riyadh, The Honourable Peter Van Loan, Canadian Minister of International Trade and an accompanying delegation that included HE David Chatterson, Canadian Ambassador to Saudi Arabia, Mr. Fraser Malcom, Director of Parliamentary Affairs and Mr. James Hill, Director, ME and North Africa Commercial Relations. The meeting was also attended by Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman.

The meeting began as Prince Alwaleed cordially received Mr. Van Loan 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 Kingdom Holding. The Company is the largest investor in Canada through Four Seasons Hotels and Resorts and Fairmont Raffles Hotels International (FRHI). Moreover, the two discussed the Prince’s last visit to Canada.

Furthermore, the Minister said that his government warmly welcomes HRH to further invest in Canada, and explore investment opportunities there. Mr. Van Loan also expressed his hope that His Highness’s visit will further strengthen economic bi-lateral relations between Saudi Arabia and Canada.

Four Seasons in which Kingdom Holding holds a 47.5% stake, is co-owned by Cascade that also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp. The Four Seasons US$ 3.8 billion acquisition deal by Prince Alwaleed and Bill Gates with Isadore Sharp was made in 2007.

Recently in 2010, KHC announced an US$847 Million Transaction with Qatari Diar involving FRHI. Under the agreements, Voyager has acquired for a combination of cash and other consideration a 40% shareholding in FRHI. In addition, 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 through Kingdom Holding is through Citigroup.