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Saudi prince to invest $50mln in priceline.com RIYADH, Sept 11 (Reuters) - Saudi Arabia`s billionaire Prince Alwaleed bin Talal said on Monday he would buy a forward contract in common stock from the founder of priceline.com <PCLN.O> for an aggregate purchase price of $50 million. A statement from the prince`s office in Riyadh said the forward agreement entitles the prince to take title to the priceline.com shares no earlier than September 8, 2001 and no later than Septmber 8, 2002. It said the agreement was for two million shares of priceline.com common stock at $25 per share. It added that prior to September 8, 2001 priceline.com founder Jay Walker "will retain voting control and record ownership of such shares." The statement said Prince Alwaleed would also receive warrants from Walker to acquire an equity interest in Walker Digital Corp, founded by Walker, as compensation for the illiquidity of the priceline.com investment. This transaction is structured in the same way as a forward contract bought in priceline.com in August by Liberty media Corp<LMGa.N> and Vulcan Ventures Inc, the statement said. REUTERS Rtr 08:36 09-11-00 |
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| aus der Diskussion: | Robertson Stevens: PRICELINE - The ONE and only ... |
| Autor (Datum des Eintrages): | fsch (11.09.00 15:09:10) |
| Beitrag: | 2 von 11 (ID:1797384) |
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