6 Aug 2008 07:00
For immediate releaseMoscow, August 6, 2008
OJSC Polyus Gold notes press statements made by Onexim Group, a company controlled by Mr. Mikhail Prokhorov, Chairman of the Board of Directors of Polyus Gold, that it intends to sell a 16.66% equity stake in MMC Norilsk Nickel to companies controlled by Mr. Vladimir Potanin pursuant to an irrevocable offer made by Mr. Potanin for a total amount of US$10 billion, or US$315 per one share. The press statement notes that if the transaction is completed the payment would be effected in the form of cash (US$6.5 billion) and a 35.2% equity stake in OJSC Polyus Gold presently owned by Mr. Potanin's controlled interests (US$3.5 billion). According to the press statement, the transaction should close by 15 November 2008.
OJSC Polyus Gold has not received any further information about the transaction from either party.
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Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow, Polyus Gold's operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia). The company produced 1.2 m oz of gold in 2007.
For further information please contact
For investors:
Alexey V. Chernushkin, Director, CM and IR
Evguenia V.Buydina, IR manager
+7(495) 641-3377
+7(495) 785-4031
ir@polyusgold.com
For press:
Victoria V. Vergelskaya, PR Director Elena D. Evstigneeva, Media Relations +7 (495) 641-3365 +7 (495) 544-5496
pr@polyusgold.com