Kingdom Hotel Investments finalises Swissotel sale

11 April 2011

Dubai-headquartered Kingdom Hotel Investments (KHI), a subsidiary of Saudi-based Kingdom Holding Co (KHC), has announced the completion of the sale of its 100% stake in the Swissotel Kunshan, China, to TA Global Berhad for $60.6m, Arab News has reported. After transaction costs and the repayment of debt, the pre-tax cash proceeds totalled $42.3m, KHI said.

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