PRESS: Tycoon Trotsenko can raise stake in Geopromining to 98.5%

MOSCOW, Jan 28 (PRIME) -- Businessman Roman Trotsenko is raising his ownership in the mining business and can boost the stake Geopromining metals company to 98.51% by acquiring a stake from the current controlling shareholder Siman Povaryonkin, business daily Kommersant reported on Tuesday.

“According to the Federal Antimonopoly Service, Cyprus-based Nakilep Overseas Limited controlled by Trotsenko has asked the agency to allow it to buy a 50.32% stake,” the newspaper reported.

Geopromining and Trotsenko declined to comment.

Geopromining was established in 2001 by Povaryonkin. The company has assets in Russia, where produces gold and antimony, and in Armenia, where produces gold, silver, copper and molybdenum. Trotsenko bought 48.19% in March 2019 from Sberbank Capital and Bellmarsh Solutions for an undisclosed amount.

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