Debevoise Advises Polyus Gold International in its sale of a minority stake in PJSC Polyus to Russian Direct Investment Fund

7 June 2017

The Moscow office of Debevoise & Plimpton LLP has advised Polyus Gold International Limited in connection with its agreement to sell 354,095 ordinary shares in PJSC Polyus for a total consideration of up to $25 million to a special purpose vehicle controlled by the Russian Direct Investment Fund.

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.

Russian Direct Investment Fund (RDIF) is Russia’s sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors.

The Debevoise team advising on the sale of shares was led by Moscow based partner Alan Kartashkin and international counsel Maxim Kuleshov, and included Moscow associates Gareth Fenney and Svyatoslav Skopintsev.

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