Four Seasons hotel in Beirut, Thursday, Dec. 22, 2016. (The Daily Star/Mohammad Azakir)
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A group of Lebanese and Arab investors are about to close a deal to buy Prince Alwaleed bin Talal's stake in Beirut's Four Seasons Hotel for more than $110 million, a source familiar with the sale said Thursday.The Riyadh-based Kingdom Holding, which was founded by Prince Alwaleed, had approached a commercial Lebanese bank in a bid to find buyers for the Four Seasons Hotel Beirut and the Movenpick Hotel Beirut.The source did not disclose the names of the investors who are planning to buy a stake in the Four Seasons Hotel, adding that the bank has signed a nondisclosure agreement with the potential buyers.The Lebanese bank has not yet found a potential buyer for the Movenpick Hotel Beirut.
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