Tycoon Vekselberg’s firms sell 22.3% stake in Petropavlovsk Plc

MOSCOW, Dec 27 (PRIME) -- Companies controlled by tycoon Viktor Vekselberg have sold a combined stake of 22.3% in U.K.-registered Petropavlovsk Plc, which mines gold in Russia, as seen by PRIME on Wednesday in materials of Petropavlovsk.

Bahamas-based Renova Assets sold its entire 14.7496% in the gold mining company, while Metkombank, controlled by Vekselberg, sold its stake of 4.4211%, and Lamesa group, a subsidiary of Vekselberg’s multi-industry holding Renova Group, sold its 3.1654% in Petropavlovsk.

Andrei Shtorkh, a member of Renova’s management board, confirmed that the company is no longer a shareholder of Petropavlovsk, but refused to elaborate.

Materials of Petropavlovsk also showed that Cyprus-registered Fincraft Holdings Ltd acquired a 22.42% stake in the company, and convertible bonds of the company that account for a 6.83% stake in Petropavlovsk and mature on March 2020. Previously, Petropavlovsk said that Lamesa Holding owned a 6.8774% stake in the company through the convertible bonds.

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