Prince Alwaleed eyes new investments in Saudi Arabia
Prince Alwaleed bin Talal announced that he has hired advisers, including Goldman Sachs Group, to fund investments as large as USD3bn for Kingdom Holding Co. The businessman is considering dividing the company’s USD13bn worth of assets through a spinoff of its domestic property and other holdings. Kingdom Holding’s current investments include stakes in Citigroup Inc., Four Seasons Hotels & Resorts and Twitter Inc. Its domestic holdings, including the one-kilometre-high tower under construction in Jeddah, make up about half of Kingdom Holding’s assets. These, Alwaleed said, could be spun off into a real estate investment trust.
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