Koor currently owns 2.56% of Credit Suisse's shares.
IDB Holding Corp. (TASE:IDBH) unit Koor Industries Ltd. (TASE:KOR), controlled by Nochi Dankner, has increased its credit line to buy Credit Suisse Group AG (NYSE: CS; SWX: CSGN; XETRA: CSGZ) shares by NIS 1 billion from NIS 5 billion to NIS 6 billion. The credit line is being extended by Citigroup Inc. (NYSE: C).
Koor's investment in Credit Suisse has so far yielded a profit of NIS 2.21 billion and an additional profit of NIS 636 million "on paper."
Koor currently owns 2.56% of Credit Suisse's shares.
Published by Globes [online], Israel business news - www.globes-online.com - on August 3, 2009
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