Russia's Polyus says Fosun stake deal to be dropped (updated)

Polyus PAO

15/01/2018 08:41

(Adds quotes, background) 
    MOSCOW, Jan 15 (Reuters) - Russia's largest gold miner 
Polyus  PLZL.MM  said on Monday that plans to sell a 10 percent 
stake to a consortium led by China's Fosun International 
 0656.HK  have been dropped, after a condition of the agreement 
was not met. 
    The deadline for completing the sale was first set for the 
end for 2017 but was then delayed until February 2018. 
 urn:newsml:reuters.com:*:nL8N1N18G2 
    "After the condition precedent was not satisfied, the 
parties discussed further options but did not reach a consensus, 
following which Polyus Gold International Limited proposed to 
terminate the agreement," Polyus said in its statement. 
    "The parties agreed to terminate the agreement, including 
the option for the consortium to acquire an additional 5 percent 
of the company's share capital pursuant to the agreement," the 
company said.  
 
 
 
 (Writing by Polina Ivanova; Editing by Katya Golubkova) 
 ((p.ivanova@thomsonreuters.com;)) 
 
Keywords: POLYUS FOSUN INTL/DEALS