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Prince Alwaleed Receives Former Canadian PM

January 15, 2012

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office in Riyadh, The Rt Hon. Martin Brian Mulroney former Canadian Prime Minister. The meeting was attended by Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman.

The meeting began as Prince Alwaleed cordially received Rt Hon. Martin Brian Mulroney 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, the former PM expressed that his government warmly welcomes HRH to further invest in Canada, and explore investment opportunities there. Mr. Mulroney 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.

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.