Asian-Pacific Bank directors approve sale of Petropavlovsk shares - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Asian-Pacific Bank directors approve sale of Petropavlovsk shares

MOSCOW, Mar 5 (PRIME) -- The board of directors of Asian-Pacific Bank has approved the sale of a 9.11% stake in U.K.-registered Petropavlovsk Plc, which mines gold in Russia, as seen by PRIME in materials of the bank late on March 2.

In December 2017, companies controlled by tycoon Viktor Vekselberg have sold a combined stake of 22.3% in Petropavlovsk and 2020 bonds that may be converted into a 6.83% stake in the company to Cyprus-based Fincraft Holdings, affiliated with Kazakh tycoon Kenes Rakishev.

In July 2017, co-founder of Petropavlovsk Pavel Maslovsky resigned from his positions of the CEO and a member of the board of directors. Previously, MaslovskyТs partner Peter Hambro was forced to leave the companyТs board of directors after a long-time dispute with Vekselberg who wanted to merge Petropavlovsk with his own gold assets located at the Kamchatka Peninsula. Later Vekselberg rejected the idea and sold his shares in the gold producer.

End %%md/jst%%

05.03.2018 09:32
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 76.1350 -0.8148 17 jan
USD 66.7617 -0.3203 17 jan
Stock Market Indices
1D 1W 1M 1Y
rtsi 1152.67 -0.03 14:19 17 jan
micex 2434.41 -0.01 14:18 17 jan
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 156.28 -0.40 14:01 17 jan
lkoh 5101.50 -0.54 14:01 17 jan
rosn 419.15 -0.44 14:01 17 jan
sber 203.05 +0.89 14:01 17 jan
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 75.8025 -0.1775 14:03 17 jan
USDTD 66.5250 +0.0550 14:03 17 jan