Polymetal closed a deal to sell Russian assets – Kommersant

Polymetal closed the deal to sell the Russian business (JSC Polymetal) to the structure of the Mangazeya group – the Mangazeya Plus company. As a result of closing the transaction, the company reduced net external debt by $2.20 billion, fully repaid intragroup debt in the amount of $1.04 billion after taxes, and also received $300 million after taxes, Polymetal said in a statement.

“We are glad that shareholders supported the sale of the Russian business. With the closing of the transaction, the main risks have been neutralized, and now management plans to present a new strategy and capital distribution policy in May,” said the head of Polymetal Vitaly Nesis (quoted from press release).

The news is being updated.