Cascade Investment, the investment group controlled by Microsoft co-founder Bill Gates, plans to increase its investment to a majority ownership stake of over $2b in Four Seasons Hotels and Resorts. The deal is set to close in early 2022, and will boost Cascade’s current holding of 47.5 per cent to 71.25 per cent. The plan for Cascade is to buy the stake from Saudi billionaire Prince Al Waleed Bin Talal’s Kingdom Holding Company in an all-cash deal valuing Four Seasons at $10b. Gates, Bin Talal, and Canadian Four Seasons founder and chairman Isadore Sharp previously made the Toronto-based hotel company private in 2007 in a $3b plus deal. Sharp is still set to retain a 5 per cent stake in the company. Four Seasons currently manages 121 hotels and resorts with more than 50 projects in its development pipeline, as well as 46 residential developments in major cities and resort destinations.
You will be redirected in 2 seconds.
CLICK HERE FOR FULL STORY