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Prince Al-Waleed's Kingdom Holding gains on Savoy London re-financing
- Saudi Arabia: Saturday, May 04 - 2013 at 19:04
Amid bullish input from the U. S., the Saudi Arabian Tadawul All-Share Index climbed 0.54% Saturday to reach 7,214.06 points. The Dow Jones Industrial Average briefly hit 15,000 for the first time ever on Friday on improved labour market data. In Riyadh, shares of Kingdom Holding Company or KHC advanced 0.88% to hit SR17.10. Earlier in the day, the investment vehicle of Saudi prince and billionaire Prince Al-Waleed Bin Talal Al-Saud, said that Breezeroad Ltd. (Savoy) United Kingdom, an associate company 50% owned by KHC, has signed an agreement on Tuesday, April 30 2013 to re-finance its current loans jointly provided by Credit Agricole and Germany's DekaBank with a new five-year $200m loan. "The loan was allocated for the purpose to acquire The Savoy Hotel in London," said KHC.
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Gérard Al-Fil, Financial JournalistSaturday, May 04 - 2013 at 19:04 UAE local time (GMT+4)
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