Russia’s Polyus Gold completes merger with KazakhGold


Russia’s Polyus Gold completes merger with KazakhGoldRussia’s leading gold producer Polyus Gold has completed a merger with its subsidiary, Kazakh mining company KazakhGold, KazakhGold said in a statement Tuesday.

The united company is to be renamed to Polyus Gold International.

Under the deal, KazakhGold has acquired Polyus Gold’s common shares and American Depositary Receipts (ADRs) representing a total of 89.14% of Polyus Gold’s issued share capital.

As a result, KazakhGold’s charter capital amounts to 3,032,149,962 shares with a face value of 0.0001 British pounds each.

KazakhGold also said that 2,985,049,962 Global Depositary Receipts (GDRs), with one GDR representing one common share, were admitted to trading on the London Stock Exchange (LSE).

Polyus Gold is a leading gold producer in Russia and Kazakhstan. As of late 2010, Russian tycoon Mikhail Prokhorov’s Onexim Group and businessman Suleiman Kerimov’s Nafta Moskva held around 40% in Polyus Gold each.