Bill Gates-Linked Fund Buys Control Of Four Seasons Hotels For $2.2 Billion
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The transaction means the Canadian company overall has an enterprise value of $10 billion, Four Seasons said in the news release.
Microsoft founder Bill Gates' investment fund reached a deal to acquire a controlling stake in the luxury hotel chain Four Seasons for $2.2 billion, the companies announced Wednesday. Under the deal, Cascade Investments, a private investment firm holding Gates' assets, will increase its holding in Four Seasons Hotel and Resorts to 71.25 percent from 47.5 percent by purchasing half of the stake belonging to Kingdom Holding Company of Saudi Arabia. The transaction means the Canadian company overall has an enterprise value of $10 billion, Four Seasons said in the news release. Founded in 1960 by Isadore Sharp, Four Seasons now has 121 hotels and resorts, and 46 residential properties in 47 countries.More Related News