The Moscow, London, Hong Kong and Shanghai offices of Debevoise & Plimpton LLP have advised Polyus Gold International Limited in connection with its agreement to sell an up to 15 per cent. stake in PJSC Polyus (MOEX — PLZL) for a total consideration of up to approximately $1.4 billion to a consortium led by Fosun International Limited (HKSE:00656). In addition to Fosun International Limited, the consortium includes Hainan Mining Co., Ltd and Zhaojin Mining Industry Company Limited.

PJSC Polyus is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced. The Company also holds the fourth largest mineral resources base in the world.

Polyus Gold International Limited (a Jersey company) is the principal shareholder of PJSC Polyus owning 91.73% of PJSC Polyus ordinary shares.

Fosun Group was founded in 1992 in Shanghai. Fosun International Limited (HKSE:00656) was listed on the main board of the Hong Kong Stock Exchange on July 16, 2007. As at December 31, 2016, Fosun’s total assets exceeded RMB480 billion and is principally engaged in three business segments of health, happiness and wealth.

The Debevoise team advising on the sale of shares was led by Moscow based partner Alan Kartashkin and international counsel Maxim Kuleshov, and included London partner David Innes, Hong Kong partner William Chua, Moscow associate Gareth Fenney, London associate Thomas Matthews, Hong Kong associate Wen-Wei Lai and Shanghai associate Fengjian Ao.

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