RIYADH: Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC) and chairman of Rotana Group, met Vincent Bollore, chairman of Vivendi at George V, Hotel in Paris.

The meeting was also attended by Fahad Alsukait, CEO of Rotana Group, Hassna Alturki, executive manager for international relations to the chairman and Kacy Grine, adviser to KHC.

During their meeting, Prince Alwaleed and Bollore discussed general, business and economic issues and future potential of a strategic partnership.

Furthermore, Prince Alwaleed and Bollore discussed the deal of acquiring KHC’s shares with a minimum amount of $150 million (SR563 million) that took place in 2015.

Moreover, the two discussed economic, cultural matters and topics related to media.

They also discussed the bi-lateral relations between Saudi Arabia and France, and the strong relations between the prince and France, especially KHC’s investments in France that are considered to be the largest Saudi Arabian presence in France.

In June 2015, French President François Hollande and Prince Alwaleed held a meeting at the French presidential Palace, The Elysee.

In a strategic alliance between France and KHC.

A consortium of France’s big companies led by the CDCIC International Capital, the International investment arm of Caisse des Depots, France’s Sovereign Wealth Fund, announced that they have approved an investment in KHC.

The deal constitutes the acquisition of KHC’s shares with a minimum amount of $150 million (SR563 million) subject to increase. Moreover, Prince Alwaleed retained all the 95 percent stake in KHC.