Polymetal International Plc (LSE:POLY) and CJSC VTB Capital, Investment Arm acquired CJSC Nevyansk Group from Ubergot Investments Limited for £6.1 million on December 18, 2012. As per the terms of the deal, 0.520422 million new ordinary shares in Polymetal will be issued comprising of issue of 0.130053 million for 24.99% stake to be acquired by Polymetal and 0.390369 million for the remaining 75.01% stake to be acquired by CJSC VTB Capital. VTB has agreed to sell this ... stake to Polymetal for £4.26 plus interest from the date of VTB's acquisition to the date of Polymetal's acquisition at the rate of 7.25% per annum. The transaction has been approved by the Board of Directors of Polymetal. Leonid Fink and Tony Friend of College Hill acted as public relations advisors, Andrei Kroupnik and Roger Lambert of Canaccord Genuity and Bill Hutchings and Sam McLennan of Morgan Stanley acted as brokers to Polymetal. All currency conversions have been made using www.oanda.com as on December 18, 2012.
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Polymetal International Plc (LSE:POLY) agreed to acquire remaining 75.01% stake in CJSC Nevyansk Group from CJSC VTB Capital, Investment Arm for $6.9 million on December 18, 2012. Polymetal will also pay interest at the rate of 7.25% per annum from the date of acquisition of VTB's stake to the date of its acquisition. The transaction is subject to approval of Government Commission on Monitoring of Foreign Investments of Russia. Leonid Fink and Tony Friend of College ... Hill acted as public relations advisors, Andrei Kroupnik and Roger Lambert of Canaccord Genuity and Bill Hutchings and Sam McLennan of Morgan Stanley acted as brokers to Polymetal.
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