No discussions, intentions for Polyus Gold to merge with Alrosa - Kerimov firm
MOSCOW. Oct 15 (Interfax) - Wandle Holdings a company owned by Suleyman and Said Kerimov and the biggest shareholder in Polyus Gold International Ltd , has officially denied the possibility of a merger between then No. 1 Russian gold producer and diamond miner Alrosa .
"Wandle Holdings notes the speculation in the media in relation to its intentions with regard to Polyus Gold. Wandle Holdings confirms that there are no discussions or intentions related to Alrosa as speculated in the media," the company said in a statement for the LSE.
Wandle Holdings Limited and its subsidiary Sacturino Limited, which own 40.22% of the shares in Polyus Gold International Limited, made an offer to buy the gold miner's other shareholders out at the end of September.
The beneficiaries of these firms are the Suleyman Kerimov Foundation, set up by Suleyman Kerimov; and Kerimov's son, Said, who has the mandatory right to appoint management, directors and conduct the business of Wandle Holdings Ltd.
The offer price is $2.97 per share, which values the company at $9 billion, and the 59.78% stake not owned by Kerimov at $5.4 billion. The premium on the average share price on the LSE just before the offer was announced is 3%, and that on the average price for three months is 7%. Polyus Gold closed trading on Wednesday at 192.5 pence a share or $2.91.
The Kommersant newspaper cited sources at investment companies as saying on Thursday that Polyus Gold might be sold to Alrosa after the Kerimov family buys out all shares in the gold producer.
A banking sector source has told Interfax that the ultimate goal of consolidating Polyus Gold might be to sell the company in time, bur that a buyer had not been found and any such deal would not be able to go through before next year.