Saudi prince Alwaleed has sold his stake in the Four Seasons hotel in the Syrian capital Damascus, according to reports.
According to the FT, the sale was completed while Prince Alwaleed was detained during an anti-corruption campaign led by Saudi Crown Prince Mohammed bin Salman, which began in November and ended last month.
This sale is part of a series of disinvestment by Kingdom Holding, Prince Alwaleed’s investment vehicle. It recently sold its stake in the Four Seasons Hotel in Beirut for around US $100-115 million including debt, according to Reuters.
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The buyer according to the publication is Samer Foz, a businessman with close ties to Bashar al-Assad.