Polymetal shareholders approve sale of Russian assets

Shareholders of precious metals producer Polymetal International approved the sale of its Russian assets to a Siberian gold miner, the company said on Thursday.

The deal involves Polymetal International selling its Russian business to Mangazeya Plus – part of businessman Sergey Yanchukov’s Mangazeya Mining – for around $3.7 billion, of which $2.2 billion is the Russian operation’s net debt.