Four Seasons shareholders approve sale

Shareholders of the Four Seasons hotel group have voted to approve the $3.37b (£1.71b) sale of the company to private investors.

The deal to take the company private was voted for by 69% of shareholders at a meeting in Toronto last week, according to the company.

The luxury hotel group has been sold to a group of investors which include Microsoft’s founder Bill Gates, Four Seasons’ chairman Isadore Sharp and Kingdom Hotels International chairman Saudi Prince Alwaleed Bin Talal.

The deal is expected to complete in the second quarter of 2007.

Four Seasons to go private >>

Kingdom Hotels’ profits soar by nearly 25% >>

Kingdom sells part of its interests in Fairmont >>

By Emily Manson

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