Polyus completes Kazakh, Kyrgyz assets sale
MOSCOW. Feb 28 (Interfax) - Jersey-based Polyus Gold International, Ltd. (PGIL), which is the controlling shareholder in OJSC Polyus Gold , has completed the sale of assets in Kazakhstan and Kyrgyzstan to a consortium of investors, a PGIL statement says.
A source with knowledge of the situation told Interfax that Polyus Gold earned more than $375 million from selling the assets of the former KazakhGold (including the sale of the Romanian assets for $20 million, part of the letter of credit opened with Altyn Group and previously paid debt to Polyus Gold structures).
According to Polyus Gold, the company Kazakhaltyn, which consolidates Kazakh assets, has been sold to Institute Project for $10 million in cash. Institute Project and Financial Services also paid off part of Kazakhaltyn's debt to a Polyus Gold structure for around $288 million in cash. The Kyrgyz assets were sold to Folkstand Consortium Limited for $1 million.
