Chinese Fosun Group to buy a blocking stake (25% + 1 share) Russian JSC Polyus is the largest gold mining company in the country, owned by Polyus Gold International Ltd (PGIL 22-year-old) said Kerimov, son of billionaire Suleiman Kerimov, the newspaper “Kommersant”.

The transaction may be completed by the end of this or early next year, discusses the amount of about $ 2 billion.

Polyus estimated at 8.5-9 billion excluding the cost of Treasury shares (34,1%), which must be repaid. The deal, according to the newspaper, will reduce the debt PGIL before the “Sberbank”.

If the parties come to an agreement, Chinese investors will have the right of veto on major deals, one place in top management “Poles”, two seats on the Board of Directors.

The transaction will require the approval of the government, because “the pole” develop fields with reserves over 50 tonnes of gold and additionally can get a giant reservoir “Dry ravine” (Russia’s largest deposits).

Close to one company source told “Interfax” that last week the head of “Pole” Pavel Grachev sent in one of the specialized agencies of the letter in which has informed on the reached investment agreements with Fosun group.

Guide Fosun requested to meet with representatives of the governments of Russia and China during the meeting of heads of governments of the two countries in Saint Petersburg on 7 November and has sent a request to the state Committee on development and reform of China.

Fosun Group was founded in 1992 and is controlled by the billionaire Guo Guantanam. Since 2010 the company is actively buying up foreign assets: the current year it spent more than $ 15 billion.

The head of the Russian Union of gold Sergei Kashuba explained that Fosun “very skilled mining team”, and the interest of the group to the “Pole” is quite understandable: it is a leading gold miner in the country, which could eventually grow huge “Dry Log”.



The largest gold mining company in Russia come under the control of the Chinese 05.11.2016

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