Bill Gates inks deal to buy controlling interest in Four Seasons

Bill Gates, co-chair of the Bill & Melinda Gates Foundation; speaks at a panel discussion on Building Human Capital during the IMF/World Bank spring meeting in Washington, U.S., April 21, 2018. REUTERS/Yuri Gripas. REUTERS/Yuri Gripas

Bill Gates‘s private investment company has signed a deal to increase its stake in Four Seasons Hotels and Resorts so that it will hold a controlling interest.

Cascade Investment LLC will pay US$2.21 billion in cash for half of the 47.5 per cent stake owned by an affiliate of its long-term investment partner, Saudi Arabia’s Kingdom Holding Co.

The deal will increase Cascade’s stake in Four Seasons to 71.25 per cent from 47.5 per cent.

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Four Seasons founder and chairman Isadore Sharp will retain his five per cent stake.

The deal is expected to close in January, pending regulatory approvals and other customary closing conditions.

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Four Seasons manages 121 hotels and resorts and 46 residential properties in 47 countries.

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