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Kingdom Holding seeking global buyout opportunities
- Saudi Arabia: Tuesday, May 07 - 2013 at 05:22
Kingdom Holding, chaired by prince Alwaleed, has asked investment banks to identify possible acquisition targets around the world, Reuters has reported. "We have talked with certain investment banks to look at opportunities that we may have not seen in our region. This is in motion right now," prince Alwaleed told the news service. The investment firm also plans to sell 20-30 hotels in Africa, the Middle East and Asia in the next two years, he said. "Those are traded portfolio. We just take them, we reconstruct them with our partners, we brand them... and then we sell them. It's like a recycling situation," he said.
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