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%.
