Financial and Banking News

INVESTMENT ACTIVITIES

KIO Takes 21% of Exco

The London-based Kuwait Investment Office (KIO) has acquired a 21% stake in Exco, one of the largest British financial service companies with 1,700 employees and mid-1985 pre-tax profits of £49.4mn. The KI0 acquired 50.1mn shares at 215p, valuing its stake at £108mn.