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Prince Alwaleed (center), with Citigroup’s Mike Corbat at the company’s headquarters in New York.
Latest developments, future plans discussed Prince Alwaleed congratulates Corbat for Citigroup’s Q2 positive results

KUWAIT CITY, July 15: HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) congratulates Mike Corbat CEO of Citigroup for Citigroup’s Q2 positive results.  Prince Alwaleed and Corbat discussed the latest developments in Citigroup and future plans of the company.  In 2013, Prince Alwaleed was received by Corbat at the company Headquarters in New York. Also in 2013, Prince Alwaleed received at his office in Riyadh Corbat, they discussed various topics related to their respective companies. Prince Alwaleed hosted a dinner in honor of and Mrs. Corbat at Kingdom Resort.

Prince Alwaleed is a prominent investor in Citigroup through KHC which operates in over 160 countries in the world since 1991 and is the largest single shareholder in the company. In 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares).

Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. KHC is one of the world’s most successful and diversified business organizations, highly respected in the field of investments and recognized as an elite player in the Arabian Gulf region, and internationally. The Company is recognized as one of the largest foreign investors in the United States.

KHC’s portfolio has its major interests in investment categories ranging from luxury hotels management hotel companies (Four Seasons Hotels and Resorts, Fairmont Raffles Holding Intl and Mˆvenpick Hotels, Resorts AG and Swissotel) and real estate (Kingdom Tower and project in Jeddah and Kingdom Riyadh project) to hotel real estate investments such as (The Plaza, New York, Savoy Hotel, London and Four Seasons, George V Hotel, Paris and other hotels).

KHC also has investments in Petrochemical (Tasnee) Media and Publishing (News Corporation and Saudi Research and Marketing Group), as well as in Entertainment (Euro Disney S.C.A).  In addition, Finance and Investment services (Citigroup), Social Media and Technology (Twitter and Jingdong). Moreover, the Company has investments in Education (Kingdom Schools), Health Care (Medical Services Projects Company), Aviation (NAS Saudi Arabia) and Agriculture (Kingdom Agricultural Development Company — KADCO Egypt). 

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