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VTB Buys Zapadnaya Stake

VTB Capital acquired a minority stake in Siberian gold miner Zapadnaya Gold Mining, which tried unsuccessfully to list in London last year.

VTB Capital did not disclose the size or price of the stake Friday. Sources said last year that Zapadnaya wanted to raise about $70 million during an initial public offering that would have valued the firm at about $200 million.

The company has three major assets in Eastern Siberia — two producing mines and one advanced-stage development project.

(Reuters)

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