Kingdom Holding Company (KHC), the investment firm of Saudi Prince Alwaleed Bin Talal, said it has successfully taken over Kingdom Hotel Investments (KHI) after 94 percent shareholders accepted its $5 per share offer. KHI, a company based in the Dubai International Financial Centre, has its shares listed on Nasdaq Dubai and its GDSs on the London Stock Exchange. The offer was made by the KHC's Cayman Islands-based unit, Kingdom 5-KR-211 to acquire all of the shares and GDSs of KHI, said a company statement on Wednesday. KHC had earlier stated that it received the unanimous recommendation of the Independent Committee of the directors of KHI for their offer. KHC has received acceptances representing in aggregate approximately 94 per cent of the total issued share capital of KHI. Therefore, the offer has become unconditional in all respects, it said.
