Business in the Elyséé Palace: Al-Waleed bin Talal, Hollande and CEOs meet over momentous Saudi-French investments

During the meeting, Hollande and Alwaleed discussed political, economic and cultural matters.

Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), attended recently a dinner at the French presidential palace, The Elysee, on the invitation of  French President François Hollande for the inauguration of the Institutional Investor Roundtable (IIR) headquarters. The event was also attended by SWF CEOs and the French Minister of Economy Emmanuel Macron.  

KHC, represented by Alwaleed, was the only company that was not a sovereign wealth fund. 

Among the attendees were the world’s largest sovereign funds CEO’s: Khaldoon Almubarak, CEO of Mubadala Develop Company; Khalil Alfoulathi, member of the board of ADIA and adviser to Sheikh Hamed Bin Zayed;  The Director, Robert Tessier, President of CDPQ; Damien Frawley, CEO of QIC; Tan Chong Lee, Head portfolio of Temasek (Singapore); Hank Ahn, Chairman and CEO of KIC, and Leo de Bever, CEO of AIMCO.

The attendees discussed potential investments across a broad range of sectors and asset classes, with a strong focus on opportunities and promoting economic cooperation between France and other countries. The discussions focused also on ways to contribute to the growth and prosperity of economies.

During the meeting, Hollande and Alwaleed discussed political, economic and cultural matters. They also discussed the bilateral relations between Saudi Arabia and France, especially KHC’s investments in France that are considered to be the largest Saudi Arabian presence in France through the ownership and management of the iconic landmark The Four Seasons Hotel George V, the management of Le Royal Monceau Hotel (Raffles), Euro Disney, Paris that was saved from bankruptcy by KHC and Walt Disney and through the presence of Citigroup. Alwaleed’s cultural contributions through Alwaleed Bin Talal Foundation have donated $20 million in 2005 to establish the center of Islamic Art at the Musée du Louvre.

Alwaleed’s accompanying delegation included Sarmad Zok, KHC Board Member and Executive Director of Hotel Investments; Hassna Alturki, Department Head, Travel & External Affairs; and   Kacy Grine, adviser to HKC chairman.