Finance / Russia
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Kit Finance Looking For Help
September 2008 | Corporate Financing News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Russian brokerage Kit Finance said on September 17 that it is in talks to sell a stake to a strategic investor. The brokerage has been unable to meet some debt obligations due to the fall in the stock market and is therefore looking to raise capital. Leader, an asset management firm which is part of Gazprom, announced that it is in talks to buy 100% of Kit, and that the talks are 'at the stage of agreeing technical details.' Gazprombank also said that it would provide Kit with the necessary capital to meet its financial obligations to clients.