Goldman Sachs has provided a credit line of at least $250m (â¬161m) to an Israeli investment company preparing to invest in financial institutions in the UK and Switzerland as investors look to take advantage of the credit crunch to pick up shares on the cheap.
Israeli holding company Koor Industries is set to borrow an initial $250m from Goldman Sachs and invest a further $250m of its own money in European financial sector stocks, according to a statement on the Tel Aviv stock exchange.
