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KHI sells stake in Movenpick Mauritius
The Saudi Gazette Published in The Saudi Gazette on 03 - 06 - 2013

RIYADH – Kingdom Hotel Investments (KHI), a wholly- owned subsidiary of Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal, has signed an agreement with Hawaii-based Outrigger Hotels and Resorts on the sale of KHI's 100 percent interest in the Mövenpick Resort and Spa Mauritius for $40 million, KHC said in a statement on Sunday.
Prine Alwaleed said “this sale marks yet another successful transaction for KHI as we continue to realize value for our investors.”
Sarmad Zok, Chairman and CEO of KHI and member of KHC's Board of Directors, said “we are delighted to be partnering with Outrigger Hotels and Resorts on this successful sale. – SG

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