Polymetal shareholders approve sale of Russian assets

MOSCOW. March 7 (Interfax) - Polymetal shareholders have approved the sale of Russian assets, the company said.

Polymetal entered into an agreement in February to sell its Russian JSC Polymetal business to a division of Sergei Yanchukov's Mangazeya Group. The deal is worth almost $3.7 billion, but Polymetal will receive only about $300 million in cash. As previously reported, Polymetal expects the deal to be closed by the end of March.