2 Big Firms Acquire Stakes in Koll Group
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NEWPORT BEACH — Two big financial companies have disclosed that they acquired major stakes in Koll Real Estate Group Inc. during the company’s reorganization in September.
In a Securities and Exchange Commission filing Tuesday, Credit Suisse First Boston said it owns 918,761 shares, or 7.7%, of the Newport Beach company’s common stock. In a similar filing recently, Merrill Lynch & Co. said it owns 1,038,259 shares, or 8.7%, of the common stock.
The investment houses were major holders of Koll Realty bonds. In the reorganization, holders of $210 million in bonds traded their securities for 90% ownership of the company.
Other major new shareholders include the ING Barings Ltd. investment bank, Koll Realty finance chief Raymond J. Pacini said.
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