Bill Gates acquires the largest stake in the Four Seasons hotel chain

The company that manages investments for Microsoft founder Bill Gates has reached an agreement to acquire the Canadian luxury hotel chain, the Four Seasons, for $2.21 billion, according to a statement published yesterday.

Under the agreement, the share of Cascade Investments, which originally owns 47.5% of the hotel group, will rise to 71.25% after purchasing shares of the other important shareholding group, Kingdom Holding Company, owned by Saudi businessman Prince Alwaleed bin Talal.

The Four Senses hotel chain said in a statement that the deal is valued at $10 billion.

KHC will retain 23.75% of the group after the deal is concluded in January 2022.

The hotel chain's founder, Isador Sharp, will also keep the 5% he currently owns.

The Four Seasons was founded in 1960 and has evolved over the years into a luxury hotel chain that now includes 121 hotels and resorts, as well as 46 residential buildings in 47 countries.

It was listed on the stock exchange in 1997, but was withdrawn from it in 2007 after it was acquired by Cascade Investments, Kingdom Holding Company and Sharp.

As for "Kingdom Holdings", it was founded in 1980 and has interests in other luxury hotel brands, including "The Savoy" in London and "The Plaza" in New York, as well as investing in e-commerce, petrochemical products and health care.

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