23 Mar 2015 10:29

Polyus Gold International Ltd directly consolidates over 95% of Polyus Gold, mandatory buyout not required

MOSCOW. March 23 (Interfax) - Polyus Gold International Limited has directly consolidated another 4,497,929.5 shares (2.36%) of OJSC Polyus Gold , the company said in a statement.

These shares previously belonged to Jenington International Inc., which is located in the British Virgin Islands and is controlled by Polyus.

As a result of the deal, Polyus Gold International Limited has increased its direct stake in Polyus Gold to 95.31% from 92.95%, thereby crossing the 95% ownership mark.

"The deal was carried out as part of internal restructuring. A mandatory buyout is not required and will not take place," a Polyus representative told Interfax.