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RIYADH – Kingdom Holding Company (KHC), the investment firm of Prince Alwaleed Bin Talal, has announced the SR700 million ($186.6 million) refinancing of Kingdom Centre. The refinancing deal, which will be done through Samba Financial Group, is for expansion and investment purposes.

The agreement was signed on Saturday by Talal Al-Maiman and Zaki Al-Mousa, board member of Samba Financial Group, in the presence of Prince Alwaleed and Eisa Al-Eisa, chairman of Samba.

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Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received at his office Ekaterine Meiering-Mikadze, the Georgian Ambassador to the GCC countries.

Meiering-Mikadze and Alwaleed discussed economic and investment issues. The ambassador commended Alwaleeds contribution toward humanity and the investment front in the various sectors and thanked him for his visit to Georgia. (AN photo)

JEDDAH- Chairman of Kingdom Holding Company (KHC), Saudi Prince Alwaleed Bin Talal pledged on Tuesday to support the Lebanese economy during the coming years and said that his total investments in Lebanon will amount to $1.5 billion.

“My investments in the tourism sector in Lebanon amount to $0.5 billion in addition to other investments in the media and banking sectors,” Daily Star quoted him as saying during the opening of the Four Seasons Hotel, adding that the projects totaled $1.5 billion.

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RIYADH – Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company (KHC), said Saturday he has discussed future potential business collaboration with Qatar Holding, the prime vehicle for strategic and direct investments by the Gulf state.

Alwaleed held a meeting in Riyadh with Ahmad Al Sayed, the chief executive of the investment arm of the Qatar Investment Authority (QIA), Dohas sovereign wealth fund, the Saudi firm said in a statement. The meeting was also attended by senior management from Kingdom Holding and media and hospitality Holding Rotana Group.

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RIYADH – Kingdom Holding Company (KHC), the investment firm of Saudi Prince Alwaleed Bin Talal, said it has successfully taken over Kingdom Hotel Investments (KHI) after 94 percent shareholders accepted its $5 per share offer.

KHI, a company based in the Dubai International Financial Centre, has its shares listed on Nasdaq Dubai and its GDSs on the London Stock Exchange.

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Kingdom Holding Company (KHC) recorded SR75.2 million net income in the first quarter of this year, approximately 50 percent increase over last years first quarter results, its chairman Prince Alwaleed Bin Talal said, the company reported in a statement on Tuesday. In addition, in light of the global economic recovery and the favorable operating results, the companys shareholders equity increased from SR21.6 billion as of March 31 March 2009 to SR25.8 billion as of March 31, 2010 – representing a year on year increase of 19.5 percent, or approximately SR1.14 per share in book value. Photo shows Prince Alwaleed with KHC board members. – SG

JEDDAH – Kingdom Holding Company (KHC), chaired by Prince Alwaleed Bin Talal said last Monday that a series of agreements were clinched between Fairmont Raffles Holdings International (FRHI) and Voyager Partners Limited (Voyager) and QD Hotel & Property Investment Limited (QDHP). Voyager is a private investment entity based in the Cayman Islands. QDHP is a wholly-owned subsidiary of Qatari Diar, the principal real estate investment entity of the Qatar Investment Authority.

Alwaleed said “I welcome the strategic alliance with Qatari Diar.”

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RIYADH – Kingdom Holding Company (KHC), chaired by Prince Alwaleed Bin Talal, announced Monday its intention to buy all shares of Kingdom Hotel Investments that it doesnt already own.

In an e-mailed statement, Kingdom Holding Co. said its Kingdom K-5-KR211 unit will offer $5 per share and per GDS representing premiums of 39.7% and 37.2% to the average trading price for the past three months of the shares and the GDSs, respectively.

The offer values KHI at approximately $843 million.

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RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, announcing the outcome of the extraordinary general meeting (EGM) held at the Four Seasons Hotel on Wednesday said the company’s number of shares outstanding has been reduced to 3.705 billion shares. With the opening of trading on Tadawul on Saturday, Kingdom Holding’s new share price opened at SR13. For example, a shareholder who on Wednesday owned 170 shares with a value of SR1,300 now owns 100 shares with the same value based on the opening share price. The reduction in the authorized capital together with the transfer of ownership of 180 million from Prince Alwaleed’s own private Citigroup shares to KHC’s shareholders, and the favorable fourth quarter and year end results, in addition to the strong outlook for 2010 and beyond, all reflected positively on the company’s per share price.

Prince Alwaleed said: “Kingdom Holding’s success is due to its sound investment strategy.”

RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, on Wednesday announced the outcome of the company’s extraordinary general meeting (EGM) held at the Four Seasons Hotel here on Wednesday.

The EGM panel was headed by Chairman Prince Alwaleed and included the KHC board members — Talal Al-Maiman, executive director for development and domestic investments, P.J Shoucair, executive director for international investments, Ahmed Halawani, executive director for private equity including Shadi Sanbar who is the CFO of KHC. The panel also included the independent board members of KHC, Khaled Al-Souhem, Ammar A. Alkhudairy and Taher Agueel.

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