Kingdom Holding’s firm sells stake in two hotels

06/10/2012 Argaam

The Kingdom Holding announced on 6/10/2012 that its fully-owned Kingdom Hotel Investments company signed an agreement to sell its stake in Fairmont and Raffles Manila in the Philippines for SAR 218 million (USD 58.1 million). The deal was closed on 3/10/2012. The company is expected to make around SAR 22.5 million (USD 6 million) in profit from the deal.

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