Paris — French President François Hollande and Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC) and Chairman of Alwaleed Philanthropies (AP), held a meeting at the French presidential palace, The Elysee.
During the meeting, the two discussed economic, cultural matters and topics related to investments.
In January, Flynas in which KHC owns a 34.08% stake, finalized a $8.6 billion deal with Airbus for the purchase of new aircraft.
KHC is a 5.8% shareholder in AccorHotels in a $3.2 billion deal.
AccorHotels had signed an agreement with KHC and other investors for the acquisition of FRHI Holdings Ltd (FRHI), parent of Fairmont, Raffles, and Swissôtel hotel brands.
KHC’s investments in France are considered to be the largest Saudi Arabian presence in France through the full ownership and the management of the iconic landmark The Four Seasons Hotel George V, the management of Le Royal Monceau Hotel (Raffles), the management of the Grand Hotel du Cap Ferrat in the South of France, in addition to, Disneyland, Paris (Euro Disney), 7 hotels in Disneyland, Paris, and through the presence of Citigroup.
Also Prince Alwaleed’s cultural contributions through Alwaleed Philanthropies that is chaired by him that have donated US$20 million in 2005 to establish the center of Islamic Art at the Musée du Louvre.
