Bill Gates’ firm buys Saudi Prince Alwaleed’s Four Seasons stake

Gates’s firm will pay Saudi billionaire Prince Alwaleed bin Talal $2.2bn for Four Seasons Holding Co stake.

Bill Gates’s investment firm will pay Saudi billionaire Prince Alwaleed bin Talal $2.2 billion to raise its stake in Four Seasons Holding Co. Cascade Investment LLC will buy a 23.75% stake from Kingdom Holding Co, giving the business a $10 billion enterprise value. As part of the all-cash deal, Cascade’s stake will increase to 71.25%. Kingdom Holding will use the proceeds for investments and to repay some outstanding loans. The deal is expected to close in January 2022. Four Seasons Chairman, Isadore Sharp, will retain his 5% stake.