Reported by Star-Bulletin staff & wire
Friday, September 11, 1998
Bankoh donates branch in Hilo to university
Bank of Hawaii is donating its Hilo branch building and land to the University of Hawaii through the nonprofit UH Foundation.University officials said the location will be used to expand UH community outreach programs.
The bank announced earlier this year that it would close the branch at Keawe and Kalakaua streets and shift the accounts to the nearby Kaikoo branch.
Mainland company buys downtown's Alii Place
The Alii Place commercial complex in downtown Honolulu has been sold for an undisclosed price to a mainland real estate investment business, Bristol Group.Alii Place, which has one a number of design awards, was completed in 1992 by MediaOne Real Estate Inc. Bristol Group, with offices in San Francisco and Boston, said that BetaWest Ltd., which has managed the building since it opened, will be retrained.
The complex, on the former site of a city parking garage bounded by Alakea, Richards and Hotel streets, consists of a 23-story high-rise and a nine-story building and has 316,000 square feet of space.
Dole Food to purchase stake in Swedish firm
WESTLAKE VILLAGE, Calif. -- Dole Food Co. has agreed to purchase a 60 percent interest in Saba Trading AB, a Swedish importer and distributor of fruit, vegetables and flowers, from Axel Johnson AB and the Swedish Cooperative Society. Terms were not disclosed.Dole's shares, meanwhile, tumbled $5.56, or 14 percent, to $34.621/2 today on the New York Stock Exchange after Bear, Stearns & Co. downgraded the stock to a "neutral" from an "attractive" and because of concerns that sales to Russia will drop.
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