Kingdom Holding Co., the investment firm owned by the Saudi prince Alwaleed bin Talal, has sold its wholly-owned Four Seasons Hotel Toronto for CAD 225 million (SAR 645 million) to Shahid Khan, the company said in a statement to Saudi bourse, Tadawul.
Kingdom said it would generate around SAR 217 million in cash flows after the sale. In addition, the company realized a capital gain of SAR 48 million on this deal, which will be reflected on Q3-2016 earnings.
Shahid Khan is the founder of Flex-N-Gate Group and CEO of the Jacksonville Jaguars of the National Football League and the historic London-based Fulham Football Club, according to earlier news reports.
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