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Kingdom Holding in $375 Mln Bid for KHI Stake - ASHARQ AL-AWSAT English Archive
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RIYADH, (Reuters) – Kingdom Holding, the investment firm of Saudi Prince Alwaleed bin Talal, will make a cash offer for the remaining shares in Kingdom Hotel Investments in a deal worth $375 million, KHI said on Monday.

Kingdom Holding’s BIDCO unit would pay $5 for each KHI share in the recommended offer for a 44 percent stake, a 25 percent premium over the market price, according to a statement.

KHI’s business was performing well but low liquidity and trading volumes were likely to continue to affect the company’s share price, according to the KHI statement in explaining the reason for the stake purchase.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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