BUSINESS BRIEFS
Firm may invest in O'ahu resort
Advertiser Staff and News Services
KSL Capital Partners LLC, a Mainland-based real estate investment company, said yesterday it is considering acquiring resorts in several locations globally, including O'ahu.
KSL Capital Partners LLC, which was founded by the executives of a company formerly affiliated with Kohlberg Kravis Roberts & Co., said it is raising $975 million to expand its holdings of luxury resorts. In addition to O'ahu, the company is looking at the southeastern U.S., California, Mexico and the Caribbean as locations for possible acquisitions.
Properties in which KSL principals already have invested include the Grand Wailea Resort Hotel & Spa.
NEW CELLULAR SITE FOR MAUI SERVICE
Verizon Wireless said it has installed a new cellular site and made other upgrades to improve coverage for its Maui customers.
A new cell site in North Kihei improves coverage along Pi'ilani and Mokulele highways, as well as Ma'alaea Harbor, the company said. In addition, recent upgrades have enhanced coverage in Kapalua.
GLITCH COSTS $225M ON TRADE
TOKYO — Japan's government rebuked the Tokyo Stock Exchange and one of the country's biggest brokerage firms yesterday after a typing error caused Mizuho Securities Co. to lose at least $225 million on a stock trade.
Jitters over the reliability of the exchange's trading system contributing to a 1.95 percent drop in the benchmark Nikkei 225 index Thursday. The Nikkei rebounded 1.45 percent yesterday to finish at 15,404.05.
BIDS MADE FOR KNIGHT RIDDER
At least two potential buyers made preliminary bids yesterday to acquire Knight Ridder Inc., the country's second-largest newspaper chain.
Offers were made by investment company Texas Pacific Group and an alliance of private equity investors Kohlberg Kravis Roberts & Co., Blackstone Group and Providence Equity Partners.
Investment bankers said they expected at least two newspaper companies to join the bidding as well — the country's largest chain, Gannett Co., and privately held MediaNews Group Inc.
