Azerbaijan, Baku, May 1 /Trend E. Kosolapova/
Polyus Gold International Limited plans to sell 7.5 percent, less one share of its issued share capital, the company reported.
The negotiation on selling of the shares was held by Polyus Gold's indirect, wholly-owned subsidiary Jenington International Inc.
"Jenington has entered into separate agreements to sell 151,607,496 Ordinary Shares representing 5 percent less one share of the Company's issued share capital, to Chengdong Investment Corporation, a wholly-owned subsidiary of CIC International Company and 50,198,271 shares and 25,153, 897 level 1 Global Depositary Receipts, representing 2.5 percent of the Company's issued share capital to VTB Bank," the company said.
The purchase price for a share will amount to $2.8.
The two deals will be worth $635.5 million.
Polyus Gold plans to complete the transactions by May 11, 2012.
"The proceeds from the two sale transactions will be used to repay outstanding indebtedness and finance development projects," the company said.
Polyus Gold International Limited is an international company, the leading gold producer in Russia and Kazakhstan, one of the world's largest gold producers. Headquartered in London, Polyus Gold's operating mines and development/exploration projects are located in 5 major gold mining regions of Russia - the Krasnoyarsk Territory, the Irkutsk, Magadan, Amur Regions, the Republic of Sakha (Yakutia), as well as in the Republic of Kazakhstan, Romania and Kyrgyzstan.
Polyus Gold produced 1.497 million ounces (46.56 tons) of gold in 2011 or 8 percent more than in 2010.
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