Polymetal diversifies towards platinum
Edited by Rhod Mackenzie / 2013-06-04 05:31:06
Polymetal Group acquired 75.01% shares of CJSC “Nevyanskaya Group”, which has a licence for geological exploration, prospecting and production at the Svetloborskaya site.
After the approval of the deal by the Governmental Commission for Control over Foreign Investments in the Russian Federation Polymetal bought 75.01% shares of Nevyanskaya Group from VTB Capital for $6.9 million, paid by monetary funds, plus interest, accumulated over the period, which started from the moment of acquisition of a share from VTB Capital at 7.25 percent of annual interest. It approximately makes up $0.2 million.
