Polyus Makes Share Offer

By The Moscow Times

Aug. 30, 2011

Polyus Gold International offered 1,900.27 rubles a share to buy out minority investors in Polyus Gold as part of an earlier reverse takeover, the company said Tuesday.

Polyus Gold International, formerly KazakhGold Group, completed the purchase of about 89 percent of Polyus Gold in July. About half of the minority investors, holding about a tenth of the shares, joined the reverse takeover, KazakhGold said July 19.

In the second stage of its share exchange offer, Polyus Gold International raised its holding in Polyus Gold to 91.5 percent this month.

(Bloomberg)

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