6 Apr 2022 15:07

Said Kerimov reduces stake in gold miner Polyus to 46.35%, leaves board

MOSCOW. April 6 (Interfax) - Vandle Holdings Limited, through which Said Kerimov owned 76.34% of gold producer Polyus , has sold 29.99% or 40,807,213 shares to Acropol Group, whose beneficiary is Akhmet Palankoev, the controlling shareholder of OJSC Donugol.

The transaction was completed on April 4, 2022 after permission from obtained from the Federal Antimonopoly Service (FAS) of Russia on March 31, Polyus said in a statement.

As a result of the deal, Said Kerimov's stake in the company was reduced to 46.35%.

Kerimov has also withdrawn from the Polyus board of directors effective April 4.

The Financial Times cited sources as saying the new package of personal sanctions the EU is discussing in connection with Russia's military operation in Ukraine could include Said Kerimov, the son of Suleiman Kerimov. The paper said the list is not final and may change before the sanctions take effect.