Ukraine’s Oleg Mkrtchan Buys 18.5% In Russia’s Gold Producer Polyus

Posted: January 1, 2015 in Econ 101, Sanctions on Russia Meaningless

SOURCE: http://www.miningweekly.com/article/ukrainian-businessman-acquires-185-stake-in-russias-polyus-gold-2014-12-31

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Ukrainian businessman acquires 18.5% stake in Russia’s Polyus Gold

31st December 2014       By: Reuters

MOSCOW – Polyus Gold, Russia’s top gold producer, said on Wednesday that Oleg Mkrtchan, a businessman from eastern Ukraine, had acquired an indirect 18.5% stake in the company.

The stake is valued at around $1.58-billion based on Polyus Gold’s current market capitalisation, according to Reuters calculations.

Mkrtchan is an owner of one of Ukraine’s largest steel groups, the Industrial Union of Donbass. Polyus Gold said Mkrtchan had bought the stake from Amirkhan Mori, a Russian entrepreneur born in Georgia.

Mori is a business partner of Russian tycoon Suleiman Kerimov, who owns more than 40% of Polyus Gold. Kerimov’s investment vehicle Nafta Moskva and Polyus Gold were not available for comment.

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