Advertisement

OTHER NEWS - Dec. 9, 1992

From Times Staff and Wire Reports

Circle K Bankruptcy Plan Amended: Commonwealth Oil Refining Co. revised its reorganization plan for Circle K Corp. to include $390 million in cash to creditors, most of it supplied by a Saudi prince. Under the amended plan to be filed later this week, one of three competing for the convenience store chain, the Saudi prince would acquire a minority interest in Irving, Tex.-based Commonwealth. The Saudi investor was identified as Prince Turki bin Fahd bin Jalawi Al Saud, head of the Islamic Relief Organization and a general in the Saudi Arabian national guard.

Advertisement