Antitrust gets complaint on Uzhuralzoloto stake in Petropavlovsk

MOSCOW, Oct 16 (PRIME) -- The Federal Antimonopoly Service has received a complaint on  a purchase by Russian gold producer Uzhuralzoloto of a stake in another gold producer Petropavlovsk Plc, a spokesperson for the service told PRIME on Friday.

“Due to the complaint, we’ve sent additional requests to Petropavlovsk Plc and Uzhuralzoloto,” the spokesperson said without disclosing the author of the complaint.

“The Federal Antimonopoly Service refrains from comment on the matter of the complaint or about the entities that filed it before the service makes a decision.”

In February 2020, Uzhuralzoloto bought 22.37% in Petropavlovsk and convertible bonds of the gold producer from companies of businessman Roman Trotsenko. In August, Uzhuralzoloto converted the bonds into shares and raised the stake to 25.88%. Petropavlovsk said later that this move diluted the stakes of all other shareholders of the company.

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