Merrill seeking $4bn, Kuwait to be signficant investor

by Megan Davies Monday, 14 January 2008

US investment bank Merrill Lynch & Company is seeking about $4 billion in a second capital raising, and the Kuwait Investment Authority (KIA) is expected to be a significant investor in the new deal, the UK's Financial Times reported on Sunday, citing people familiar with the matter.

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A deal could be announced as soon as midweek, the newspaper said. It added that other investors could come from Europe.
Merrill Lynch was not immediately available for comment.

In December, Merrill Lynch shored up its capital base by as much as $7.5 billion after selling a stake to Singapore's government and an asset manager.

Merrill is scheduled to report earnings this week.

The New York Times on Friday reported Merrill was expected to suffer $15 billion in losses stemming from bad mortgage investments, almost twice the company's original estimate. (Reuters)



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