Fortis gets $630 MLN from Russian billionaire

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Russian billionaire Suleiman Kerimov has pumped more than $630 million into the Belgian-Dutch financial services group Fortis as part of its survival plan.

On Tuesday shareholders criticised the bank's plans to raise a total of $13 billion. It has struggled to raise money amid the global credit crisis.

The news comes a week after its British rival Barclays sold stakes to investors from Qatar, Japan, Singapore and China.