Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi KHC gives up stake in Philippines hotel for USD58m  Join our daily free Newsletter

MENAFN - 07/10/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) Kingdom Holding Company (KHC), chaired by Saudi billionaire Prince Alwaleed bin Talal, has agreed to sell its stake in the Fairmont Hotel and Raffles Suites & Residences in Manila, the capital of the Philippines, for USD58.1 million, Reuters reported.

The stake was sold to a unit of the Philippines' Ayala Land Inc and earned an estimated profit of USD5.86 million, KHC said.

The Saudi company said it would remain a stakeholder in further stages of the real estate project but did not elaborate on the size of its stake.

Kingdom Holding has minority stakes in some of the world's most valuable companies, including Rupert Murdoch's News Corp and microblogging site Twitter.

 






  MENA News Headlines


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help