Russia's En+ to buy 21.4% of its shares from VTB

En+ MKPAO

06/02/2020 07:19

MOSCOW, Feb 6 (Reuters) - Russia's En+ Group  ENPLq.L  said
on Thursday it will buy back 21.4% of its shares from state bank
VTB  VTBR.MM  for $1.6 billion. 
    The shares will be bought at $11.57 each "which represents a
significant discount to En+ fundamental valuation", the company
said in a statement. 
    En+ plans to raise up to 110.6 billion roubles ($1.8
billion) from Sberbank  SBER.MM  for the deal, it said. 
    En+ said it may use the shares "for strategic activity" or
to float all or part of them on the market "over the longer
term". 
    En+ also reaffirmed its intention to resume dividend
payments this year. 
    ($1 = 62.7200 roubles)

 (Reporting by Katya Golubkova; editing by Jason Neely)
 ((ekaterina.golubkova@thomsonreuters.com; +7 495 775 1242;))