VOL.XXXVI

NO.44

2-AUGUST-1993

Financial And Banking News

REGIONAL BANKING

InvestcorpTeam Wins Control Of CircleK;SaksPaysOff

Subordinated Debt

Bahrain-basedInvestcorpcompletedtheacquisitionof

Circle K Corporation on 27 July. Thepurchase, which needed approval from a federal bankruptcycourt, involved the payment of $399.5mn to Circle K'screditors,andallowsthe companytoemerge from bankruptcy.Circle K operates approximately2,500 convenience stores sellinggeneralmerchandiseand gasoline in 28 states in...