VOL. XXXI

NO. 25

28-MARCH-1988

Financial and Banking News

INVESTMENT ACTIVITIES

Ebro Fights KIO Bid

The board of directors of the Spanish sugar manufacturers Ebro Compania deAzucares y Alcoholes, for which the Kuwait Investment Office (KIO) subsidiaryTorras Hostench is making a takeover bid (MEES, 21 March), has decided to contest the bid. In a statement to shareholders last week, Ebro's chairman, Mr.Francisco Javier Lozano, urged them not to accept the Torras offer of Pta.30,000 per share, on the...