Russian gold producer Polyus has cancelled an agreement to sell a 15% stake to China’s Fosun, the company said in a statement on January 15.
“Polyus, the largest gold producer in Russia, notes the announcement made earlier by Polyus Gold International Limited that the agreement to sell 12,561,868 of the ordinary shares in the company to a consortium led by Fosun International Limited has been terminated,” Polyus said.
The Polyus Gold International Limited stake in Polyus remained at 82.44%, the treasury stake is 1.22% and free float is 16.34%, Polyus said.
A consortium of investors led by Fosun announced an agreement to buy 10% in Polyus and receive an option for 5% more in the company in May 2017. (Prime/Ukrainian metal)