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Bill Gates' investment firm to take control of Four Seasons in $2.21 bln deal
No, not that Four Seasons; the other Four Seasons.
September 8, 2021
12:16 PM EDT
Last Updated 2 hours ago
Business
Bill Gates' investment firm to take control of Four Seasons in $2.21 bln deal
Reuters
2 minute read
Sept 8 (Reuters) - Bill Gates' Cascade Investment LLC is taking control of Four Seasons Hotels and Resorts by buying about half of Saudi Arabian Prince Alwaleed bin Talal's stake for $2.21 billion, the hotel operator said on Wednesday.
Cascade will acquire 23.8% of the billionaire prince's stake in Four Seasons, raising its ownership to 71.3% and valuing the hotel chain at $10 billion on an enterprise basis.
Prince Alwaleed, through investment vehicle Kingdom Holding Co (4280.SE), will continue to own the remaining stake, Four Seasons said in a statement.
While the prince owns stakes in many companies such as Citigroup Inc (C.N) and ride-hailing firm Lyft Inc (LYFT.O), his investment firm has been selling its stakes in hotels over the last 10 years.
{snip}
12:16 PM EDT
Last Updated 2 hours ago
Business
Bill Gates' investment firm to take control of Four Seasons in $2.21 bln deal
Reuters
2 minute read
Sept 8 (Reuters) - Bill Gates' Cascade Investment LLC is taking control of Four Seasons Hotels and Resorts by buying about half of Saudi Arabian Prince Alwaleed bin Talal's stake for $2.21 billion, the hotel operator said on Wednesday.
Cascade will acquire 23.8% of the billionaire prince's stake in Four Seasons, raising its ownership to 71.3% and valuing the hotel chain at $10 billion on an enterprise basis.
Prince Alwaleed, through investment vehicle Kingdom Holding Co (4280.SE), will continue to own the remaining stake, Four Seasons said in a statement.
While the prince owns stakes in many companies such as Citigroup Inc (C.N) and ride-hailing firm Lyft Inc (LYFT.O), his investment firm has been selling its stakes in hotels over the last 10 years.
{snip}
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