Companies controlled by tycoon Viktor Vekselberg have sold a combined stake of 22.3% in U.K.-registered Petropavlovsk Plc, which mines gold in Russia.
Bahamas-based Renova Assets sold its entire 14.7496% stake in the gold mining company, while Metkombank, controlled by Vekselberg, sold its stake of 4.4211%, and Lamesa group, a subsidiary of Vekselberg’s multi-industry holding Renova Group, sold its 3.1654% in Petropavlovsk.
Andrei Shtorkh, a member of Renova’s management board, confirmed that the company was no longer a shareholder of Petropavlovsk, but refused to elaborate.
Materials of Petropavlovsk also showed that Cyprus-registered Fincraft Holdings Ltd acquired a 22.42% stake in the company, and convertible bonds of the company that accounted for a 6.83% stake in Petropavlovsk and would mature in March 2020. Previously, Petropavlovsk said that Lamesa Holding owned a 6.8774% stake in the company through the convertible bonds. (Prime/Ukrainian metal)