Boliden closing in on deal for Lundin’s European mines
A deal would cement Boliden’s position as one of Europe’s biggest producers of zinc.
Russian gold producer Polyus said on Wednesday that it had closed the books for its more than $6 billion share buyback early, and that the entire buyback package would be redeemed.
Earlier this month, Polyus said its board had approved a share buyback worth up to 579.4 billion roubles ($6.44 billion) that could boost its financial flexibility for future M&A deals.
It said that it would buy back 40,802,741 shares, representing 100% of the maximum number of shares set out in its tender offer, or 29.99% of outstanding shares.
A Polyus representative said a large shareholder had submitted a bid to sell part of its stake and that a large number of retail investors had participated.
The subsequent free-float value will be determined once calculations have been finalised.
On Tuesday, a delisting of Polyus’ depositary receipts from the London Stock Exchange, in part due to US and UK sanctions against the company over Russia’s actions in Ukraine, came into effect.
($1 = 89.9000 roubles)
(By Alexander Marrow, Anastasia Lyrchikova and Caleb Davis; Editing by Louise Heavens and Bernadette Baum)
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