September 12, 2012 / 4:47 AM / in 5 years

Onexim says in talks to sell Polyus Gold stake

MOSCOW, Sept 12 (Reuters) - Russian tycoon Mikhail Prokhorov’s Onexim group is in talks with two potential buyers to sell a stake in Polyus Gold, Russia’s largest gold miner, it said on Wednesday, confirming previous reports.

Onexim, which indirectly controls around 37.78 percent in Polyus Gold, said has been in discussions to sell all, or some of its interests in the company.

“Onexim... confirms that it is in preliminary discussions, regarding a possible sale of some, or all, of its interest in Polyus Gold, with two potential purchasers in respect of an interest of less than 20 percent each in Polyus Gold,” Onexim said in an emailed statement.

On Tuesday, two sources familiar with the discussions told Reuters that Nafta Moskva, the investment vehicle of businessman Suleiman Kerimov, was seeking to buy out a stake in Polyus Gold.

Nafta denied it was interested in Polyus Gold.

Polyus has a market capitalisation of around $10.4 billion, according to the company’s data.

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