Bill Gates' investment firm buys KHC shares in Four Seasons for $2.2bn

The deal is expected to be closed in January 2022, with a gain of SR5.9 billion. (Shutterstock)
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  • The KHC affiliate will retain a 23.75 percent ownership

RIYADH: Bill Gates' Cascade Investment LLC is taking control of Four Seasons Hotels and Resorts by buying about half of a Kingdom Holding Co. (KHC) affiliate's stake for $2.21 billion, the hotel operator said on Wednesday.

The KHC affiliate will retain a 23.75 percent ownership. Gates’s Cascade Investment will pay $2.2 billion in cash to boost its stake in Four Seasons Holdings to 71.25 percent from 47.5%, according to a Bloomberg report.

The deal is expected to be closed in January 2022, with a gain of SR5.9 billion. Proceeds from the sale will be used for future investments and repayment of part of its outstanding loans.