Prince Alwaleed and Google's Schmidt hold working lunch at The Savoy, London
- Saudi Arabia: Sunday, February 03 - 2013 at 14:42
- PRESS RELEASE
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) met with Mr. Eric Schmidt Executive Chairman of Google at The Savoy hotel, London. Also, Prince Alwaleed and Google's Schmidt held a lunch meeting in the presence of, HRH Prince Khalid Bin Alwaleed Bin Talal Bin Abdulaziz Alsaud and Mr. Shadi Sanbar, KHC's Executive Director and CFO and Member of the Investment Committee.
HRH has significant investments in the US in the financial sector via Citigroup, in the media and entertainment sector through News Corporation, Time Warner and in the hotel sector through the Fairmont New York Plaza one of New York's most distinctive landmarks, Four Seasons hotel via the management of Four Seasons Hotels and Resorts in which KHC hold a 47.5% interest, and in the Social Media and Technology sector via Twitter.
His Highness first invested in Citigroup in 1991, and is the largest single shareholder in the company. In January 2008, Prince Alwaleed participated in a $12.5bn private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).
Prince Alwaleed has 7% (voting shares) through KHC in News Corp. and KHC that is 95% owned by Prince Alwaleed, is the second largest shareholder in News Corp after the Murdoch family.
The New York Plaza that is owned 50% by HRH through KHC underwent a $400m renovation and reopened a few years ago. The hotel is managed by Fairmont Raffles Hotels International (FRHI) in which KHC holds a substantial interest.
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