U.S. BANKS LURE FOREIGN INVESTORS
Press of Atlantic City, The (NJ) - Thursday, April 25, 1991
Author: BYLINE: Associated Press
*Bank stocks have rebounded but their prices are relatively cheap. With stable interest rates, they become good buys.
In recent weeks, Saudi tycoons have surfaced as major investors in two of the nation’s biggest banks, Citicorp and Chase Manhattan Corp. The deals are probably a coincidence and don’t show any particular trend of Arab investment, most experts said Wednesday.
(snip)
In February, Citicorp announced Prince Al-Waleed bin Talal of Saudi Arabia purchased $590 million of convertible preferred stock in a private placement. The prince stated he intends to limit his ownership in Citicorp, the nation’s largest banking company, to 10 percent. The Federal Reserve must approve any individual’s acquisition of more than a 10 percent interest in a bank or bank holding company.
(snip)
Citicorp’s private deal with the Talal was designed to boost the troubled banking giant’s capital levels and prove to the marketplace that it could attract investors.
Section: Business
Page: D8
Dateline: NEW YORK
Record Number: 9104250130
Copyright (c) 1991 The Press of Atlantic City
(excerpt)
Food for thought: Could it be possible Stanley Ann knew al-Mansour before odoomba? Was she the common demoninator?
From a 2002 biz announcement:
VP WELCOMES DR.KHALID ABDULLAH TARIO AL-MANSOUR TO IT’S BOARD.
Dr. Khalid Abdullah Tario Al-Mansour is an internationally acknowledged advisor to Heads of State and business leaders in Africa, Asia, the Middle East and North America. He has been actively involved in structuring investments and joint ventures worldwide for over 35 years.