By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
News HonourNews Honour
Search
Reading: Polymetal to sell Russian business in one piece -CEO – Yahoo Finance
Share
Notification Show More
Aa
Aa
News HonourNews Honour
Search
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
News Honour > Blog > Business > Polymetal to sell Russian business in one piece -CEO – Yahoo Finance
Business

Polymetal to sell Russian business in one piece -CEO – Yahoo Finance

Editor
Last updated: 2023/09/22 at 7:36 AM
By Editor 2 Min Read
Share
SHARE

ASTANA, Sept 21 (Reuters) – Gold and silver producer Polymetal International plans to sell all of its Russian assets rather than split them up, and will hire an adviser for the deal soon, chief executive Vitaly Nesis said on Thursday.
The United States in May included Polymetal's Russian business and Polyus – the largest gold producers in Russia – on its latest list of sanctions targets, aiming to punish Moscow for its actions in Ukraine.
Polymetal International completed re-domiciling to Kazakhstan from Jersey last month, getting a listing on the Central Asian nation's Astana International Exchange (AIX) and saying it would sell the Russian business within nine months.
"I think that selling the Russian business part by part would definitely destroy much of shareholder value," Nesis said, when asked about the plans in Astana. "So we are not considering the option of selling parts of the business."
Nesis said the new Russian rule requiring investors from "unfriendly" jurisdictions to sell assets at half their market price would not apply to Polymetal thanks to its redomiciliation to Kazakhstan.
He also said Polymetal would not sell the business to an entity on the U.S. sanctions list, which rules out Polyus as a buyer. Nesis declined to name any potential buyers and said talks were yet to start.
"This will not be a fire sale; we must sell this asset for a lot of money," he said. (Reporting by Tamara Vaal Writing by Olzhas Auyezov. Editing by Gerry Doyle)

source

You Might Also Like

Top headlines: Google to pay Canadian news publishers $100 million a year – Financial Post

Share Bazar Live: Know the latest situation of share market? Business News | hindi news – Zee Business

US economy grew faster than expected as businesses ramped up investment – as it happened – The Guardian

ICYMI: NFIB's Holly Wade Discusses Small Business Credit on … – NFIB

Five Star Business Finance share price Today Live Updates : Five Star Business Finance closed today at ₹797.2, up 1.68% from yesterday's ₹784.05 – MintGenie

Editor September 22, 2023 September 22, 2023
Share This Article
Facebook Twitter Email Print
Previous Article Seltzer's owner slows down but says restaurants aren't going … – Business Observer
Next Article Ellenton Premium Outlets announces the addition of seven new businesses – Bradenton Herald
Leave a comment

Leave a Reply Cancel reply

Connect with:
Facebook Google Twitter

Your email address will not be published. Required fields are marked *

Stay Connected

Facebook Like
Twitter Follow
Youtube Subscribe
Telegram Follow
- Advertisement -
Ad image

Latest News

Animal box office day 3 early reports: Ranbir Kapoor-Sandeep Reddy Vanga film continues to rampage, aims for Jawan’s three-day record – The Indian Express
Latest News
S&P 500 to end 2023 up 17% but little gains seen between now and … – Reuters
Investments
S&P 500, Nasdaq end lower on first day of August in busy earnings … – Reuters
Investments
Bollywood News Highlights: सचिन तेंदुलकर ने की ‘सैम बहादुर’ की तारीफ, 24 घंटें चल रहे Animal के शो – Jansatta
Latest News
Newshonor © 2023. All Rights Reserved.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Register Lost your password?