New owner of Russia's UGC gold producer will offer to buy out minority shareholders, ministry says

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22/10/2025 09:48

MOSCOW, Oct 22 (Reuters) - The new owner of Russia's gold producer UGC will offer to buy out minority shareholders, Deputy Finance Minister Alexei Moiseev said on Wednesday.

The central bank ruled earlier this month that the state - which seized a majority stake in UGC - had violated the rights of minority shareholders in the company by not making an offer as required by law.

Moiseev said that the ministry, which is holding the stake through its property agency, is in talks with the new owner and is expecting a transaction before the end of this year.

 (Reporting by Elena Fabrichnaya; Writing by Gleb Bryanski
Editing by Andrew Osborn)

 ((gleb.bryanski@thomsonreuters.com;))