UPDATE: Polyus cancels deal to sell 15% stake to ChinaТs Fosun - 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

UPDATE: Polyus cancels deal to sell 15% stake to ChinaТs Fosun

(Adds details in paragraphs 1, 6)

MOSCOW, Jan 15 (PRIME) -- Russian gold producer Polyus has cancelled an agreement to sell a 10% stake to ChinaТs Fosun over the Chinese companyТs failure to fulfill terms of an option to buy 5%, the company said in a statement on Monday.

УPolyus, the largest gold producer in Russia, notes the announcement made earlier today by Polyus Gold International Limited that the agreement to sell 12,561,868 of the ordinary shares in the company to a consortium led by Fosun International Limited has been terminated,Ф Polyus said.

The Polyus Gold International Limited stake in Polyus remained at 82.44%, the treasury stake is 1.22% and free float is 16.34%, Polyus said.

A consortium of investors led by Fosun announced an agreement to buy 10% in Polyus and receive an option for 5% more in the company in May 2017.

Fosun said in a statement that it will consider other investment opportunities in Russia. УThe company will continue to focus on strengthening its core competitiveness and explore other opportunities on value investments in Russia,Ф it said.

End

15.01.2018 13:01
 
 
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