Another one bites the dust:
TORONTO (Reuters) - Saudi Prince Alwaleed bin Talal and Colony Capital will pay $3.9 billion to buy Fairmont Hotels & Resorts Inc , the hotelier said on Monday, trumping an offer by billionaire investor Carl Icahn, who put the company in play with a partial bid last year.
The joint offer by Prince Alwaleed's Kingdom Hotels International and investment group Colony would combine the Fairmont name with the Raffles hotel group.
So, that last bastion of Canadian hotels, Fairmont, will now be assimilated by foreign interest. Banff Springs, Chateau Lake Louise, Royal York - now under Saudi control and name.
It's also the next in the old CP empire to be sold, leaving Fording and Encana.... how much longer before ECA hits the auction block?
Is there anything left that's distinctly Canadian that hasn't been sold yet?
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