Financial and Banking News


KIO Increases Spanish Holdings

The Kuwait Investment Office (KIO), acting through its Barcelona holding company Torras Hostench, has acquired a 15.3% stake in SA Cros, a chemical company. The stake was acquired in two separate purchases, one for 9.3% and the other for 6%. The former deal valued the stake at Pta. 4.3bn ($35.2mn) and Torras purchased the shares from Banco Santander. A Torras spokesman last week revealed that further purchases...