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ALROSA Bid for Stake in Polyus Gold

Release time: 2008-6-12 22:27:25 Visit frequency: 279

The offer made by Russia's largest diamond producer ALROSA to acquire roughly 6.54 percent of Polyus Gold, or 12,476,401 shares, expires at 6 p.m. today Moscow time, the Russian gold company said in a press release.

According to the offer, which was made on Thursday, ALROSA plans to purchase a stake held by Polyus Gold's subsidiary Jenington International Inc. at a fair price.

As reported earlier, Russian businessman Mikhail Prokhorov's Onexim Group also made an offer to Polyus Gold on May 30 to buy the same 6.54 percent stake. Furthermore, a similar offer was made on May 21 by Kazimir Partners, which sought to buy a 2.5 percent stake in Polyus Gold

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