Lamesa Group Holding, affiliated with Russian tycoon Viktor Vekselberg and his multi-industry holding Renova Group through Polo Company, has raised its share in U.K.-registered Petropavlovsk Plc, which operates in Russia, to 2.7448% from 1.5237%, Petropavlovsk said in a statement.
Other details of the deal were not disclosed.
Other affiliates of Renova Group control 14.764% in Petropavlovsk meaning that Vekselberg now controls a 17.5088% stake in the gold producer.
Lamesa Holding also owns convertible bonds of Petropavlovsk with maturity in 2020 that account for 6.8744%, or 224.674 million shares in the company. (Prime/Ukrainian metal)