Kingdom Holding to ‘spin off’ part of realty business: CEO

23/01/2019 Argaam

 

Kingdom Holding Co. (KHC) might spin off part of the business, comprising commercial, hospitality and housing activities, in one year, chief executive officer Talal Al Maiman told Bloomberg.

 

No advisers have been yet hired for the deal.

 

“We’re not yet into the spinning mode. We’re in developing mode,” Al-Maiman said on the sidelines of the World Economic Forum in Davos.

 

Reassuring investors about the company’s operations, Al-Maiman said the company “performed just well”, when Prince Alwaleed was temporarily absent.

 

“It is also going to spend a lot of money within six months in the Kingdom,” Al-Maiman concluded.

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