Saudi Investor Acquires Chase Stake: An investment...
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From Times Staff and Wire Reports
Saudi Investor Acquires Chase Stake: An investment group headed by Saudi investor Suliman S. Olayan has acquired 5.02%, or the equivalent of 6.7 million common shares, of Chase Manhattan Corp., the New York banking giant. Olayan and several entities he controls, including Crescent Diversified Ltd., paid $170 million for investment purposes, according to a Securities and Exchange Commission filing.
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