Polymetal International plc (POLY.ME)
- Reuters
Polymetal agrees $3.7 billion Russian asset sale to Siberian gold miner
MOSCOW (Reuters) -Precious metals producer Polymetal International has agreed to sell its Russian assets to a Siberian gold miner for about $3.7 billion, it said on Monday of a deal forced at a knock-down price by repercussions from the conflict in Ukraine. Polymetal's Russian assets were placed under U.S. sanctions in 2023 in response to Moscow sending troops into Ukraine in February 2022 and the company switched its domicile to Kazakhstan from Jersey and listed on the Central Asian nation's Astana International Exchange (AIX) to try to facilitate a sale. The deal involves Polymetal International selling its Russian business to Mangazeya Plus - part of businessman Sergey Yanchukov's Mangazeya Mining - for around $3.69 billion, of which $2.21 billion is the Russian operation's net debt.
- Reuters
Polymetal CEO: New shareholder will expedite Russian asset sale
The arrival of gold and silver producer Polymetal International's new, major shareholder should expedite the sale of its Russian business and it expects to finalise the deal by the end of March, CEO Vitaly Nesis said on Wednesday. Polymetal is seeking to sell its Russian assets, which were put under U.S. sanctions in 2023 in response to Moscow sending troops into Ukraine in February 2022. In August 2023, the company re-domiciled to Kazakhstan from Jersey and listed on the Central Asian nation's Astana International Exchange (AIX).
- Reuters
Russian tycoon's investment group ICT sells Polymetal stake to Omani-owned consortium
Investment company ICT Holding, owned by Russian businessman Alexander Nesis, has sold its 23.9% stake in gold and silver producer Polymetal International to a consortium led by the Omani government, Polymetal said in a statement on Monday. Polymetal International is seeking to sell its Russian assets, which were sanctioned by the U.S. in 2023 in response to Moscow sending troops into Ukraine in February 2022. Polymetal, founded by Nesis' ICT Group in 1998, is one of the world's top ten gold miners and owns production assets across Russia and Kazakhstan.
