Gold slide forces Russia billionaire to sell stakes in Polyus Gold
Gold's recent slump smoked out Russian billionaire Mikhail Prokhorov from gold business as he said gold became less appealing to international investors.
Gold's recent slump smoked out Russian billionaire Mikhail Prokhorov from gold business as he said gold became less appealing to international investors.
He said his Onexim investment holding group had sold its 37.78-percent stake in the gold producer Polyus Gold for 3.6 billion. However,the stake was bought by Russians.
The stake was acquired by an organisation controlled by Russia's lower house parliament member Zelimkhan Mutsoyev and by Gavriil Yushvayev, a former co-owner of the Wimm-Bill-Dann juice and drinks producer.
Gold is widely regarded as an a safe haven against drastic fluctuations in the economy. Stabilization of the global economy has seen central banks slashing their gold holdings which has led to falling prices.
This week which is 10% less than its October high of $1798.10. The deal was approved by British regilators, who check whether the new buyers are affiliated with the current shareholder of Polus Gold Suleiman Kerimov’s Nafta Moskva.
The gold miner is not the first major asset Prokhorov has put up for sale. In 2008 he sold 25 percent of Nornikel’s shares at its peak, helping him stay afloat amid the ensuing financial crisis.
Sumber : Google
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