Wednesday, November 08, 2006
Polyus Gold: Vladimir Potanin and Mikhail Prokhorov could raise USD 436m - 730m from buyback transaction
Vladimir Potanin and Mikhail Prokhorov could earn between USD 436m and USD 730m on the sale of their Polyus Gold shares via a buyback transaction, reported Vedomosti. The paper cited experts and wrote that Potanin and Prokhorov hold in total 56.6% in the Russian gold producer. Polyus Gold’s shareholders decided to sell in total 77.3% in the company.
Vedomosti wrote that at the beginning of October, Polyus Gold announced plans to buy its own shares for USD 1bn. Polyus Gold subsidiary Jenington International closed reception of the offers on 3 November, Vedomosti noted.
Sources in Russian holding company Interros said earlier that Interros wants to sell part of its shares in Polyus Gold, the paper continued. Yesterday, Interros did not say what stake it offered to sell.
Source Vedomosti
Vedomosti wrote that at the beginning of October, Polyus Gold announced plans to buy its own shares for USD 1bn. Polyus Gold subsidiary Jenington International closed reception of the offers on 3 November, Vedomosti noted.
Sources in Russian holding company Interros said earlier that Interros wants to sell part of its shares in Polyus Gold, the paper continued. Yesterday, Interros did not say what stake it offered to sell.
Source Vedomosti
