VOL. XXXVI
NO. 6
9-NOVEMBER-1992
Financial and Banking News
INVESTMENT POLICY
Ercros Misses Payments as KIO Funds Run out
Grupo Torras, the principal Spanish investment arm of the Kuwait InvestmentOffice (KIO), has declined to provide further financial support to its ailingchemicals affiliate Ercros, with the result that the company has stopped payingits pensioners and some staff. Last July, Torras provided Ercros with Pta4,000mn($40mn), representing three months' working capital, to allow it to...
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