Kingdom Holding divests stake in Four Seasons Malaysia for $90 mln

Kingdom Holding Company (KHC), owned by business tycoon, Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has sold its 90 percent stake in the Four Seasons Resort Langkawi, Malaysia at a total value of $90 million.

The equity was offloaded to Leisure Ventures Pte Ltd. (LVPL), an affiliate of Hotel Properties Limited (HPL), a Singaporean listed company, KHC said in a statement.

“KHC continues to be a stakeholder in this property through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the resort” Prince Alwaleed said in a statement.

Riyadh-based KHC was founded in 1980 and has been publicly traded since 2007. It is currently one of the largest foreign investors in the United States. It operates in the fields of mobility solutions, digital technology and social media, in addition to hotels and hospitality management.