No offers received for Kerimov's stake in Polyus Gold - Polymetal CEO
MOSCOW. Oct 8 (Interfax) - Russian gold and silver producer OJSC Polymetal has not received any offers to purchase the stake of Polyus Gold's largest shareholder, Suleyman Kerimov, Polymetal CEO Vitaly Nesis told journalists at the Minex 2014 mining forum.
Asked if the company had received a proposal from Kerimov concerning the sale of his stake in Polyus Gold, Nesis said: "He didn't make a proposal."
Earlier this year, the media cited sources as saying that Kerimov could sell his 40.22% stake in the gold producer. According to the sources, preparation for the sale began in autumn of last year. A representative from Nafta Moskva denied this information, however.
Kerimov began selling assets in the fall of 2013 following the conflict between Uralkali and Belarusian Belaruskali. Last year, Kerimov companies sold about 1% of Alrosa shares with a market value of $40.8 million and 21.75% of Uralkali for roughly $5.4 billion to Mikhail Prokhorov's Onexim Group. Alexander Mamut and former senator Sergei Gordeyev purchased 36% of property developer PIK Group with a market value of $468 million.
In February 2013, Onexim sold its stake in Polyus Gold (37.78%) to Zelimkhan Mutsoev and former Wimm-Bill-Dann co-owner Gavriil Yushvaev for $3.6 billion. It was reported later that Mutsoev had transferred 18.5% of Polyus Gold shares to his brother, Regiony property development group co-owner Amirkhany Mori.
Polyus Gold International, Russia's biggest gold producer, develops hardrock and alluvial deposits in Krasnoyarsk territory, the Irkutsk, Magadan and Amur regions and Yakutia. The chief beneficiaries are the Suleyman Kerimov Foundation (40.22%), Gavriil Yushvayev companies (19.28%) and Amirkhan Mori (18.5%). The free float is 22%.
