RIYADH, 8 May 2006 - Prince Alwaleed ibn Talal, chairman of Kingdom Holding Company (KHC), received at his office chairman and CEO of the Goldman Sachs Group, Inc. New York, Henry M. Paulson, Jr. and his accompanying delegation. The meeting was also attended by a team from KHC which included P.J. Shoucair, executive director of International Investments, and Michael R. Jensen, Corporate Finance Group head and Ms. Manal Alshammary and Roaa Sharaf from the Protocol Department.
Following the exchange of greetings, Paulson Jr. expressed his appreciation to Prince Alwaleed for giving him the opportunity to meet with him. The meeting began with a general discussion about a number of social and economic issues including Saudi - US bilateral relations. Furthermore, Prince Alwaleed and his guests discussed the recent flow and economic developments in the Gulf Region and Saudi in particular.
Paulson Jr. presented Prince Alwaleed with several joint investment opportunities. The two discussed Prince Alwaleed's current investments in the hospitality sector and ways to help finance them both locally and internationally. Prince Alwaleed and Paulson also discussed his strategic investments in the satellite channel industry and further establishing Rotana, which has already developed into a media empire.
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high networth individuals. The firm had a record annual profit of $5.63 billion in 2005, and is currently the world's leading provider of merger advice.
