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28-DEC-92/4 JAN 93

Financial and Banking News


KIO Sells 16% Stake in Singapore's Cycle & Carriage Firm

The Kuwait Investment Office (KIO) has sold a 16% share in the Singaporecompany Cycle & Carriage to Jardine of Hong Kong for $129.7mn. Jardine hadpreviously announced that it had purchased the stock from OCBC Securities, whichis owned by the Singapore-based Overseas Chinese Banking Corporation. Brokers inSoutheast Asia are understood to be increasingly concerned...