Monday, 5 April 2010
Qatar takes $847 million stake in Fairmont Raffles
Affiliates of Qatar's sovereign wealth fund have paid $847 million for a stake in hotelier Fairmont Raffles Holdings International from Kingdom Holding 4280.SE, to become the biggest shareholder in the group.
DEALS
Kingdom Holding said in a statement that Fairmont Raffles had agreed to sell 40 percent of its capital to Cayman Islands-based Voyager Partners Ltd and Qatari Diar, which is owned by the Qatar Investment Authority.
Kingdom Holding did not say whether the stake involved new or existing shares in Fairmont Raffles Holdings.
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