The European Bank for Reconstruction and Development bought 5.26 percent of Vysochaishy, a gold producer known as GV Gold, for 1.53 billion rubles ($53 million), valuing the company at about $1 billion.
Raiffeisen Bank International acted as the financial adviser on the deal, GV Gold said Wednesday.
The producer increased gold output 37 percent in the first half to 1.87 tons from a year earlier, GV Gold said. It will use the proceeds for expansion.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
