VOL. XXXV
NO. 4
28-OCTOBER-1991
Financial and Banking News
Investment
KIO Buys Two Luxury Hotels in Arizona for $111.5mn
The London-based Kuwait Investment Office (KIO) has purchased 55% ofCrescent Holdings of the US, Activities giving it complete ownership of twoluxury hotels in Phoenix, Arizona. The Resolution Trust Agency (RTA), a USFederal agency created by Congress to sell the assets of bankrupted savings andloan associations, sold its share of Crescent Holdings to the KIO for $111.5mn,it...
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