Mangazeya Mining to acquire Russian assets of Polymetal International for $3.69bn.

Mangazeya Mining, a Russian mining company, agreed to acquire Russian assets of Polymetal International, precious metals producer, for $3.69bn. “The Board, the Special Committee and the management team of the Group are set to deliver on our commitment to restore shareholder value and re-set Polymetal’s strategy by selling the Russian business of the Group. A quick, transparent, and sanctions-compliant exit under the terms of the proposed Transaction serves the interests of all stakeholders. The completion of the divestment will allow the Group to de-risk the Company’s business, deliver stable cash flows and pursue new investment opportunities. The Board recommends shareholders to vote for the proposed resolution,” Vitaly Nesis, Polymetal International CEO.