The Four Seasons Hotel, left, in Beirut. (The Daily Star/Hasan Shaaban)
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Saudi-based company Kingdom Holding sold its stake in the Four Seasons Hotel in Beirut for $120 million to a group of Lebanese and Arab investors, sources said Tuesday.Sources say that the remaining investors have not yet been identified.The Daily Star reported last year that the financial arm of a leading Lebanese bank had been trying to find new investors for the Four Seasons Hotel in Beirut in addition to the Movenpick Hotel Beirut, which is also owned by Kingdom Holding.A source at the time said Kingdom Holding approached the bank before the arrest of Prince Alwaleed. The source at that time did not reveal the names of potential investors in the Four Seasons, saying the bank had signed a nondisclosure agreement with the potential buyers.
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