Kerimov Wants to Sell PIK

Billionaire Suleiman Kerimov wants to sell his stake in property developer PIK Group for $1 billion, Kommersant reported Friday, citing a source close to Kerimov’s Nafta Moskva holding.

Kerimov owns 35 percent to 45 percent of the developer, a holding he acquired in 2009 in exchange for helping the company renegotiate its debt, the newspaper said. 

(Bloomberg)


Read more