Financial and Banking News


KIO Increases Stake in Spanish Papermaker

The Kuwait Investment Office (KIO) has increased its stake in the Barcelona-based paper manufacturer Torras Hostench from 24% to 37% by buying share options not taken up by other shareholders during a recent one-for-one rights issue, which raised a total of Pta.55bn in new capital funds for the company, half of which has been provided by the KIO. The KIO's injection into Torras totalled Pta.27bn...