BILL GATES IN REAL ESTATE?
As reported by the Austin American Statesman...
Four Seasons Hotels Inc., the manager of 74 luxury hotels, agreed to be taken private by Microsoft Corp. Chairman Bill Gates, Saudi Prince Alwaleed Bin Talal and the companys chief executive officer for $3.8 billion, including debt.
The purchase does not affect the ownership of each hotel, just the management company. Shareholders will get $82 a share in the purchase, the Toronto-based company said in a statement. Isadore Sharp, Four Seasons CEO, will receive $289 million as part of the transaction.
Hotel companies have become takeover targets as travel to the worlds largest cities rises while the supply of new hotel rooms trails. Four Seasons, whose hotels include the Four Seasons in Austin, the George V in Paris and the Beverly Wilshire in Beverly Hills, Calif., operates in 31 countries. Alwaleed is bidding through Kingdom Hotels International, and Gates will purchase his stake through Cascade Investment LLC.
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So Gates may have more money than Trump, but it seems he's also smart enough to know a good town when he sees it. I have to admit that I am a Mac fan, so Steve Jobs needs to step it up a little. I can definitely help him find a nice condo in Downtown Austin.
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