Complex Made Simple

Prince Alwaleed meets President of Euro Disney

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), met Mr. Tom Wolber, President of Euro Disney S.A.S, Paris and Mr. Mark Stead, CFO of Disneyland Paris. The meeting was also attended by Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman.

During the meeting the two discussed the latest developments in both KHC and Euro Disney in which KHC holds a 10% stake. Moreover, Prince Alwaleed and Mr. Wolber also discussed a number of general local, regional issues and the current global economic climate. They also discussed Prince Alwaleed’s investments in Euro Disney and France, and the social and economic bi-lateral relations between their respective countries.

In August 2014, HE French President François Hollande and Prince Alwaleed held a meeting at the French presidential Palace, The Elysee. During the meeting Mr. Hollande and Prince Alwaleed discussed political, economic and cultural matters.

In June 2014, KHC and Caisse des Dépôts International Capital (CDC International Capital – CDCIC) had signed a Memorandum Of Understanding (MOU) to establish an investment vehicle jointly managed by CDCIC and KHC seeking to develop Saudi projects and ventures that shall benefit from the involvement of French companies, technologies and know how.

In 2012, HE French President François Hollande, and Prince Alwaleed inaugurated the new center of Islamic Art at the Musée du Louvre in Paris in the presence of Mr. Henrie Loyrette, Director of the Louvre Museum and Ms. Aurélie Filippetti, Minister of Culture and Communications during a ceremony.

In response to an invitation from the former President Nicolas Sarkozy of France who presided the G8 Summit for 2011, Prince Alwaleed attended the e-G8 forum that was held the eve of the G8 Summit.

In 2006, Prince Alwaleed was bestowed the medal of ‘Legion of Honor’, with the rank of Commander by the former French President, Jacques Chirac during an official ceremony held at the Élysée Palace. The medal is the country’s highest civilian honor, and it was bestowed to the Prince in recognition of his role in strengthening Saudi-French cultural, business and economic relations. In 2007, HRH was awarded the ‘Golden’ medal by the French Minister of Culture and Communication.

KHC’s investments in France that is considered to be the largest Saudi Arabian presence in France through the ownership and management of the iconic landmark The Four Seasons Hotel George V, the management of Le Royal Monceau Hotel (Raffles), Euro Disney, Paris that was saved from bankruptcy by KHC and Walt Disney and through the presence of Citigroup. Also Price Alwaleed’s cultural contributions through Alwaleed Bin Talal Foundation that have donated $20m in 2005 to establish the center of Islamic Art at the Musée du Louvre.

The Four Seasons Hotel George V was ranked in Gallivanter’s Guide “Best City Hotel Worldwide” and ‘Best European City Hotel’ for 11 years. Prince Alwaleed acquired the George V in 1996 for $178m. A two-year $125m comprehensive renovation was started in 1997. The total cost of acquiring the hotel and renovation amounted to $303m, reflecting the Prince’s dedication to restore the glory of this landmark.