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Kingdom Holding in $375 Mln Bid for KHI Stake | ASHARQ AL-AWSAT English Archive 2005 -2017
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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.