$630 Million Infusion From Russian Investor

June 30, 2008 8:55 pm

Russian investors could be the new benefactors for Western banks seeking cash to shore up their shaky finances.

In a sign that banks are looking beyond Asian and Middle Eastern investors for help, Dutch-Belgian bank Fortis NV is tapping Russian billionaire Suleiman Kerimov for a €400 million, or about $630 million, capital injection, according to people familiar with the matter.

The midsize European bank, which last week surprised shareholders with plans to raise some €8.3 billion, has secured the money from Mr. Kerimov’s Swiss-based investment vehicle, Millennium Group

read the rest published by WSJ here:

http://online.wsj.com/article/SB121478473602014555.html

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