Financial and Banking News
KIO Takes Stake in Hungary's Technoimpex
The Kuwait Investment Office (KIO) has taken a stake of about 8% inTechnoimpex, a Hungarian trading house. The shares were bought in a privateplacement arranged by Creditanstalt-Bankverein. KIO will pay about $4mn for thestake. The move follows the formation last year of a joint venture betweenKuwait Petroleum Company and Technoimpex.