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Polyus Assures Shareholders

The board of directors of Polyus Gold pledged to take the interests of all shareholders into account if a buyout offer were made for minority stakes, Interfax reported.

"Should any party or parties acting in concert acquire more than 30 percent of the voting rights in [the gold producer] or any party holding an interest of between 30 percent and 50 percent acquire additional voting rights, it may then be required to make an offer for the whole of [the company's] issued ordinary share capital," the company said.

"[The board] will take appropriate steps in order to ensure that [Polyus Gold] is appropriately prepared and that the interests of all shareholders are represented should this situation progress," the company said.

Mikhail Prokhorov's Onexim Group said Wednesday that it was in talks with two potential buyers to sell its nearly $4 billion stake in Polyus Gold.

(MT)

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