Word: stakes
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Dates: during 1990-1990
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...Connecticut's Gun Valley, the deal was a godsend. To preserve 1,000 local jobs, state treasurer Francisco Borges said last month that Connecticut would participate in the buyout of Colt Firearms by purchasing a 47% stake in the company for $25 million. But the state has bought into a moral dilemma. Next month Colt will begin producing the Sporter, a gun similar to the AR-15, an assault rifle the company quit producing because of its use by drug traffickers. Colt contends that the Sporter will not be fully automatic, and therefore is not an assault rifle...
...obscurity of its new owner. Investcorp was started in 1982 by Nemir Kirdar, a U.S.-educated Iraqi who had worked for Chase Manhattan Bank, and Abdul-Rahman Salim Al-Ateeqi, a former Kuwaiti Finance Minister. The company's 12,000 shareholders, none of whom own more than a 0.5% stake, constitute a Who's Who of Middle Eastern tycoons and royalty. The firm's philosophy is to make large, friendly investments, which, so far, have been concentrated in the U.S. and Europe...
Investcorp posted profits of $52 million last year from holdings that include a 50% stake in Gucci, the leather-goods empire, as well as control of Color Tile, the largest U.S. floor-coverings retailer, and Carvel, the ice- cream chain. After taking over Tiffany in a friendly buyout in 1984, Investcorp took the jewelry chain public again within three years and made a profit of $100 million...
...Pavillion at Saks, Houston, Texas: In 1986, Aeneas Holdings acquired a 50 percent stake in this mall for $7.1 million. Harvard now estimates the value of the investment as $13.4 million...
...Lithuanians have got little more than moral support elsewhere, since the Western powers are not eager to punish Moscow for squeezing Vilnius. With the warming of East-West relations at stake, they reason, the fate of a tiny republic and its 3.7 million people -- 1.3% of the Soviet population -- does not merit a fight, unless Moscow turns truly nasty. "Everybody feels for the Lithuanians," says a senior NATO diplomat, "but everybody is keeping an eye on the bigger picture...