Riyadh – Mubasher: An affiliate of Kingdom Holding Company has signed an agreement to sell half of its stake in Four Seasons Holding Company, while retaining 23.75% ownership of Four Seasons.
The unit will sell 23.75% stake for SAR 8.29 billion, with an expected gain of SAR 5.9 billion, according to a bourse disclosure on Wednesday.
Kingdom Holding said the asset book value stood at SAE 2.25 billion, while the transaction is forecast to be closed in January 2022.
Proceeds from the sale will be used for future investments and repayment of part of outstanding loans.
