VOL. XXXIV
NO.16
21-JANUARY-1991
Financial and Banking News
Asset Sales
KIO Ercros Sells its Refining Company for $461mn
Ercros, Spain's biggest chemical producer, in which the Kuwait InvestmentOffice (KIO) has a dominant stake, has sold its petrochemical division, Ertoil,to a Luxembourg- based investment company, General Mediterranean Holding (GMH).KIO's principal Spanish subsidiary, Grupo Torras, holds 38% of Ercros, which wasformed in 1988 through the merger of two Spanish chemical companies,...
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