VOL. XXX

NO. 3

27-October-1986

Financial and Banking News

INVESTMENT ACTIVITIES

KIO Buys 5% of Biggest Spanish Bank

The Kuwait Investment Office (KIO) has acquired a 5% stake equivalent tonearly 3.5mn ordinary shares in Spain's biggest commercial bank, BancoCentral. The deal was completed with the mediation of a Swiss firm, GSMSecurities Management AG of Zurich, which paid Pta.4,150 per share, a discountof Pta.200 from the market price. The total amount paid was Pta.14.4bn ($109mn),although the...