Prince Alwaleed, who will be retaining his full ownership stake in KHC
, welcomed this important and strategic milestone deal pursuant to the Saudi Arabian Capital Market Authority opening to foreign investors.
After establishment of the investment fund, each of KHC
and CDCIC will contribute SAR 375 million (USD 100 million) to the Fund.
HRH Prince Alwaleed Bin Talal Bin Abdulaziz AlsaudPrince Alwaleed, Chairman of KHC
, commented: "The investment in this platform is a continuation of KHC
's successful investment strategy in Africa that began in 2003, and reflects our confidence in achieving long-term returns for investors in this venture.
The MoU was signed by KHC
executive director for private equity and international investments Dr Adel Alsayed and PBME chief executive Talal Alzain.
In 2013, KHC
led a consortium of investors advised by QInvest, Qatar's leading investment bank, for the acquisition of a strategic stake in 360Buy Jingdong valued at SR1.
is the Saudi Arabian conglomerate owned by Prince Alwaleed which is behind the 1km-long Kingdom Tower scheme.
Not only were he and Sandra the lifeblood of KHC
, but they also fought to save the Birmingham Boys' Junior Football League from folding in the 1990s.
In March, Kuwait-based Zain Group accepted an offer from Batelco Group and KHC
, which is owned by Saudi Arabian billionaire Prince Alwaleed, to buy its 25% stake in Zain KSA for about $950 million.
The new direct investment was made alongside an exclusive group of leading international investors, said a KHC
also has a stake in Movenpick hotels and resorts which opened in Lebanon during 2002 as well.
Last year, Kingdom Holding announced the sale of Legacy Hotels Real Estate Investment Trust (REIT) for a sale value SR5 billion with sale proceeds of SR740 million going to KHC
, Swissotel Sydney in Australia for a sale value SR281 million, re-financing of the Four Seasons George V hotel in Paris with net cash proceeds valued at SR285 million going to KHC
, the re-financing of the Hotel des Bergues, Geneva in the amount of SR375 million and announced the sale of the Four Seasons Hotel, London for SR550 million.
Recently, the company conducted experiments on KHC
(Kurosawa and Kusanagi-Hypercholesterolemic) rabbits, in which it compared two groups: one given with tap water and the other with the deep sea water.