FHR Acquires Interest in Fairmont Plaza

Fairmont Hotels & Resorts Inc. (FHR) acquired on February 10, 2003, the remaining 50 per cent equity interest in The Fairmont Copley Plaza Boston hotel from entities controlled by Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud of Saudi Arabia. The purchase price was approximately US$23 million and was satisfied by the issuance of one million common shares of FHR. FHR was represented in-house by Terence Badour, senior vice-president and general counsel, assisted by McCarthy Tétrault LLP with a team that included Iain Morton, David Woollcombe, Stu Miller and Paula McMullan. David Friedman, Thomas Greenberg and Ivana Vujic of Skadden, Arps, Slate, Meagher, & Flom LLP acted as U.S. counsel to FHR. Prince Alwaleed was represented by Bruce Gilchrist, Mark Landis and Jonathan Brooks of Hogan & Hartson LLP in Washington, D.C.