Polymetal is not considering a buyback of Russian assets – Kommersant
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The sale of Russian assets will allow Polymetal (MOEX: POLY) increase liquidity, said the head of the company Vitaly Nesis. According to him, Polymetal is not considering the possibility of buying them back.
“No, I think that such an option would actually contradict the sanctions in spirit, if not in letter, so we have never considered such a possibility,” Mr. Nesis said during a teleconference in response to the question of whether the company plans to buy out Russian assets (quote according to TASS).
In May 2023, the US Treasury included the Russian structure Polymetal on the sanctions list. In August of the same year, the company completed its delisting on the London Stock Exchange.
Today, February 19, Polymetal announced, which entered into an agreement to sell its Russian business (JSC Polymetal) to Mangazeya Plus. Assets are valued at $3.69 billion, including $2.21 billion of net debt. The deal is planned to be closed by the end of March.
Read more about the company’s business in the Kommersant publication. “Deceptive Prospects”.
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