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Polyus Sells Share Packages

Polyus Gold closed the sale of 5 percent minus one share to China's Chengdong and 2.5 percent of its shares to VTB Bank, Interfax reported Friday.

The seller of the shares was a company in the metallurgical group Jenington International. The total cost of the sale came to $635.5 million.

Polyus Gold International, which controls Russian gold producer Polyus Gold, sold ordinary shares to Chengdong, a subsidiary of the Chinese sovereign fund CIC International, and shares and first-level Global Depositary Receipts to VTB. Chengdong and VTB entered into lock-up agreements stipulating that they will not sell their Polyus shares for 180 days after the completion of the deal.

(MT)

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