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Four Seasons Going Private in $3.8B Deal

TORONTO-The luxury hotel chain would be owned by billionaire Bill Gates, Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud and Isadore Sharp, the founder of the hotel company.

By Brian K. Miller | Updated on February 12, 2007

TORONTO-Four Seasons Hotels Inc. is being taken private by its founder, a billionaire and a prince for $3.8-billion including debt. The hotel company said Monday it has signed a definitive agreement to be acquired for $82 per share by affiliates of Cascade Investment LLC, which is owned by Bill Gates of Microsoft fame; Kingdom Hotels International, a company owned by a trust created for the benefit of His Royal Highness Prince Alwaleed Bin Talal and his family; and Isadore Sharp, who founded Four Seasons in 1960.

The transaction has been unanimously approved by the Four Seasons board. Shareholders still must vote on the transaction. A vote is scheduled for April. Voters representing two-thirds of the shares must approve the plan.

Four Seasons operates in 31 countries and its properties account for four of the top 10 properties in the world as ranked by Conde Nast Traveler. Sharp says the transaction is “the best way to preserve and expand the long-term strategy, vision and core values of Four Seasons.”

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