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Kingdom Holding sells 100% interest in Ghana's Movenpick Hotel

Kingdom Holding sells 100% interest in Ghana's Movenpick Hotel
Kingdom Holding sells 100% interest in Ghana's Movenpick Hotel
KINGDOM
4280
3.80% 7.37 0.27

Raiyadh - Mubasher: Kingdom Holding Company (KHC) sold its 100% interest in Ghana - based Mövenpick Hotel Ambassador Accra for SAR375 million ($100 million), according to a press statement.

KHC sold its 100% interest to QG Africa Hotel LP, a Mauritius-based fund managed by Quantum Global Investments Africa Management.

"This transaction marks yet another success for KHC’s value realization strategy from growth market investments," said Chairman Prince Alwaleed Bin Talal.

KHC will continue to be a stakeholder in this asset through our interest in the management company Mövenpick Hotels & Resorts which will continue to operate the hotel, added Chairman.