Polyus completes the conquest of the Pole

Polyus completes the conquest of the Pole

Polyus Gold is completing the registry change process. British Polyus Gold’s Mikhail Prokhorov and Suleiman Kerimov have announced an offer to buy the remaining free floating Russian company stock for a total of $ 1.4 billion.

However, in reality, Polyus only needs to accept the owners ’offer of only 3.5% of the shares, about $ 450 million. After that, the company will be able to buy the rest of Polyus ’shares by force, completing its acquisition.

Polyus Gold International has announced the parameters of a new offer to buy shares of OJSC Polyus Gold. The British company is ready to repurchase 20.7 million shares (10.86%) for 1.9 thousand rubles. a piece. That is, overall, Polyus Gold will need about $ 1.4 billion to implement the offer. Polyus shareholders must make the decision to sell the securities within 70 days, after which the company will have 15 days to liquidate.

Polyus Gold was created as a result of the reverse acquisition (RTO) of Polyus, its subsidiary Kazakhgold (registered on the English island of Jersey, renamed Polyus Gold). In the first stage of the RTO, which was completed on July 26, the shares of the Russian company became British securities. So Polyus Gold became the owner of 89.14% of Polyus. In the next stage, the company had to repurchase the shares of the remaining shareholders through a mandatory offer.

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