Reuters Charles Platiau
The company “Cascade Investment” owned by the American billionaire, Bill Gates, bought a controlling stake in the shares of the hotel network “Four Seasons”.
The Wall Street Journal reported that the Gates Company raised its stake in Four Seasons shares from 47.5% to 71.25%, buying 23.75% of the Saudi company, Kingdom Holding, in a deal worth $2.21 billion.
Thanks to this deal, the total estimated value of the hotel network has increased to $10 billion, and the final signing of the contract is expected in January 2022.
Prince Alwaleed bin Talal has agreed to sell half of his ownership in Four Seasons Hotels and Resorts to American billionaire Bill Gates, in a deal valued at $10 billion.
For its part, the Kingdom Holding Company owned by Prince Alwaleed bin Talal said in a statement: It has signed a final binding agreement to sell a 23.75% stake in Four Seasons Hotels Company, to a subsidiary of its strategic partner Cascade Investment Group, owned by American businessman Bill Gates.
The Four Seasons network was founded in 1960 by Canadian businessman Isador Sharp, who currently owns 5% of its shares.
The network currently includes 120 hotels and 46 residential properties in 47 countries
Source: “TASS” + above