Kingdom Holding unit sells 23.8% stake in Four Seasons Holding, gets SAR 8.3 bln proceeds

05/01/2022 Argaam

Logo of Kingdom Holding 

Kingdom Holding Co. (KHC) completed the sale of its 23.75% stake in Four Seasons Holding Inc., through one of its affiliate, Kingdom Investment Co. 1 (TSF), to FS Washington Acquisition Corp., and received cash proceeds of SAR 8.29 billion.

 

The expected gain of SAR 5.9 billion will be recognized in the first quarter of 2022.

 

In September 2020, Kingdom Investment Co. 1 (TSF) signed an agreement with FS Washington Acquisition Corp., a subsidiary of Cascade Investment Group, to sell its 23.75% stake in Four Seasons Holding Co., Argaam earlier reported.

 

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