Jan 25, 2017
Prince Alwaleed Receives French Minister of Foreign Affairs

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) and Chairman of Alwaleed Philanthropies (AP) received His Excellency Jean Marc Ayrault, French Minister of Foreign Affairs and an accompanying delegation. The meeting was attended by Mr. Talal Almaiman, CEO of KHC, Ms. Hassna Alturki, Senior Executive Manager for International Relations to HRH the Chairman, Mr. Fahad Bin Nafel, Senior Executive Assistant to HRH the Chairman, Mr. Ahmed Altobaishi, Executive Assistant to HRH the Chairman.

The meeting began as the Minister thanked Prince Alwaleed for the meeting. During the meeting, the two discussed the social and economic relations between Saudi Arabia and France in addition to cultural matters, and topics related to investments.

Moreover, the two discussed the strong relations between HRH and #France, especially KHC’s investments in France that 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 His Highness that have donated US$20 million in 2005 to establish the center of Islamic Art at the Musée du Louvre.

Furthermore, earlier this month Flynas in which KHC owns a 34.08% stake, finalized an $8.6B deal with Airbus for the purchase of new aircrafts. Moreover, 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.

In 2016 and in 2015 HE French President François Hollande and Prince Alwaleed held a meeting at the French presidential Palace, The Elysee.

In a strategic alliance between France & KHC, a consortium of France’s big companies led by the CDCIC International Capital, the International investment arm of Caisse des Depots, France’s Sovereign Wealth Fund, announced that they have approved an investment in KHC. The deal constitutes the acquisition of KHC’s shares with a minimum amount of $150 million dollars (SR563 million Saudi Riyals) subject to increase.  Moreover, HRH Prince Alwaleed retained all the 95% stake in KHC. In a separate deal, KHC & CDC France’s SWF had announced a launch of USD 400M fund. The investment fund will be to seek attractive investment opportunities in small and medium size enterprises in Saudi Arabia with the participation of large French corporates, in addition to diversifying KHC’s investment portfolio.

In 2006, HRH 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 2009 Former President Nicolas Sarkozy awarded Prince Alwaleed with the “President of France Medal”. In 2007, HRH was awarded the “Golden” medal by the French Minister of Culture and Communication.

Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. Today, KHC is one of the world’s most successful and diversified business organizations with investments across 12 sectors. For over two decades, the company has been a leading player in the global hospitality industry, building shareholder value by acquiring, developing, actively asset managing and monetizing high-quality hospitality assets.