Prokhorov’s Onexim Sells Polyus Gold Stake for $3.6 Bln

MOSCOW, February 22 (RIA Novosti) – Russian billionaire Mikhail Prokhorov’s Onexim Group has sold its 37.8 percent stake in gold producer Polyus Gold International Ltd to another two Russian billionaires for $3.61 billion after the deal was approved by UK regulators, the company said on Friday.

The UK Takeover Panel approved the selloff of Onexim’s 18.5 percent stake to Lizarazu Ltd., a company associated with Zelimkhan Mutsoyev for $1.77 billion, and 19.28 percent to Receza Ltd., a firm associated with Gavril Yushvaev, a former owner of the dairy and juice maker Wimm-Bill- Dann for $1.85 billion, Onexim said in a statement.

Both businessmen are acting in the interests of Suleiman Kerimov who owns 40.2 percent of the company’s stock through his holding company, Nafta Moskva.

Polyus shares gained 5 percent and traded up 2 percent at 223.50 pence by 9:55 a.m. in London.

Prokhorov, a former Russian presidential candidate, is moving out of commodities as he seeks to diversify his business interests.

The billionaire famously said in January 2012 he was ready to sell his businesses and give most of the money to charity if he won the March 2012 election.


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