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Russia's antitrust service allows Alrosa to buy 45% in KIT Finance

21:40 27/11/2008

MOSCOW, November 27 (RIA Novosti) - Russia's antitrust service approved on November 25 an application by diamond miner Alrosa to buy a 45% stake in KIT Finance Holding Co., the holding said Thursday.

The Antimonopoly Service earlier gave Russian Railways the go-ahead to buy 45% in the struggling company via the rail monopoly's 100% subsidiary, KRP-Invest.

The remaining 10% will be bought by the National Capital company. The buyout is to be completed by the end of January.

The first deputy head of the Russian Railways corporate finance department, Yury Novozhilov, heads KIT Finance Holding.

In line with the takeover deal with Russian Railways and Alrosa, KIT Finance Holding Company will raise its stake in the KIT Finance investment bank to over 96%.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20081127/118581575.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/business/20081127/118581575.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Russia's antitrust service allows Alrosa to buy 45% in KIT Finance</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">21:40</span> <span style="color:#5590bf; padding-right:7px;">27/11/2008</span> <span style="font-size:12px;">Russia's antitrust service approved on November 25 an application by diamond miner Alrosa to buy a 45% stake in KIT Finance Holding Co., the holding said Thursday. <a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20081127/118581575.html" title="Russia's antitrust service allows Alrosa to buy 45% in KIT Finance">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Russia's antitrust service allows Alrosa to buy 45% in KIT Finance

21:40 27/11/2008 Russia's antitrust service approved on November 25 an application by diamond miner Alrosa to buy a 45% stake in KIT Finance Holding Co., the holding said Thursday. >>

Other news of the day