Kingdom Holding sells stake in Fairmont Mount Kenya for $18 mln

09/09/2015 Argaam

Kingdom Holding Investments (KHI), a wholly owned subsidiary of Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal, has sold its 75 percent interest in the Fairmont Mount Kenya Safari Club to a private Kenyan company for a gross consideration of SAR 68 million ($18 million).

 

KHI, however, will continue to have an indirect interest in the sold entity through Kingdom Holding’s stake in FRHI Hotels & Resorts, which also runs the sold hotel.

 

The deal was sealed on Sept. 1, KHC said in a statement.

 

Kingdom Holding owns stakes in two other top luxurious hotels companies, the Four Seasons Hotels & Resorts and Mövenpick Hotels & Resorts.

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