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kingdom holding

Freed Saudi billionaire remains chairman of Kingdom Holding

RIYADH: Riyadh-listed Kingdom Holding confirmed on Thursday that billionaire Prince Al-Waleed bin Talal remained its chairman, brushing aside speculation that he had forfeited control following his detention in an anti-corruption crackdown. The prince, dubbed the Warren Buffett of Saudi Arabia, was released on Saturday after nearly three months in detention after an undisclosed financial agreement with the government. The prolonged detention of Prince Al-Waleed, ranked among the richest men in the world, had sent shock…

Saudi Arabia’s Kingdom Holding buys 7% of Careem

RIYADH: Saudi Arabia's Kingdom Holding said on Thursday it has bought a stake in car ride-hailing business Careem, its latest venture in the booming sector. Kingdom Holding, chaired by Prince Alwaleed bin Talal, acquired a seven percent share in the firm, valuing the transaction at $62 million. Dubai's Abraaj Group said in a separate statement that it has divested its shareholding in Careem. It did not give the size of the stake but confirmed it has been acquired by Kingdom Holding, a diversified Riyadh-based global…

Saudi carrier flynas in $8.6 bn Airbus deal: shareholder

RIYADH: Low-cost Saudi carrier flynas has concluded an $8.6 billion purchase deal with Airbus, a major shareholder said Thursday, as competition grows in the kingdom's expanding market. Kingdom Holding Co, which owns a 34 percent stake in the airline, said flynas has finalised the "deal with Airbus for the purchase of new aircraft". It gave no details of the number or type of planes that flynas will acquire but a source close to the negotiations told AFP they are from the A320 family of single-aisle aircraft.…

Saudi billionaire Prince Talal sells Toronto Four Seasons

RIYADH: Saudi billionaire Prince Alwaleed bin Talal's company has sold the luxury Four Seasons hotel in Toronto for $170 million, it said on Sunday. Kingdom Holding Company said it sold the hotel for 225 million Canadian dollars (152 million euros) to Shahid Khan, the Pakistani-American businessman who founded auto parts maker Flex-N-Gate and owns English Premier League club Fulham. KHC said it had made a profit of 17 million Canadian dollars from the sale of the hotel, which it bought four years ago for 200 million…