Suleyman Kerimov can sell Polyus Gold

As it became known to Vedomosti, Suleiman Kerimov may sell his only remaining major asset, 40.22% shares of the largest gold producer in Russia, Polyus Gold.
Suleiman Kerimov did not stop the sale of shares in "Uralkali" and PIK Group. Businessman is looking for buyers for the 40.22% stake in Polyus Gold, told "Vedomosti" two friends Kerimov, a source at one of the banks - the company's creditors, and two friends of the company's top managers. Preparations for the sale began in the fall, says one of the interlocutors "Vedomosti". But since then, the buyers for the company and was not found, adds the banker. The representative of "Nafta Moscow" states that this information - "complete nonsense." The company no notification about a possible sale does not work, said the representative of Polyus Gold.

Yesterday at the London Stock Exchange 40,22% Polyus Gold worth 2.3 billion pounds ($ 3.7 billion at current exchange rates). Sold whether shares of other co-owners - brother Zelimkhan Mutsoeva Amirhana Mori (18.5%) and Gabriel Yushvaeva (19.28%), could not figure out. They bought shares of gold-mining company in February 2013 the group "Onexim" Mikhail Prokhorov for $ 3.7 billion. Yesterday, the exchange of such a package was worth $ 3.5 billion.

Karimov began to sell assets in the autumn after the scandalous breakup "Uralkali & raquo; and "Belaruskali": Russian company refused to sell potash trade through a joint venture with the "Belaruskali" - Belarusian Potash Company (BPC). After that, the General Director of "Uralkali" Vladislav Baumgertner of Kerimov and Belarus were criminal cases. Last year, the structure Kerimov sold about 1% "Alrosa" market value of $ 40.8 million, 21.75% of "BRIC" "ONEKSIM" for about $ 5.4 billion. Former Senator Sergey Gordeev and businessman Alexander Mamut has bought 36% of the group PIK market worth $ 468 million.

After this major asset Kerimov structures were only 40,22% Polyus Gold.

However, applicants for gold stocks yet, say the interlocutors "Vedomosti". Over the past year the price of gold fell sharply (see. Chart). Because of this, the company moved the launch of a major project - the Natalka gold deposit (one of the largest undeveloped deposits in the world) for the summer of 2015. In December 2013 Polyus Gold is going to run primarily Natalka GOK, and in the summer to bring it to a full pro cycleduction, which would add to the company's production of 500,000 ounces already in 2015 (in 2012 Polyus Gold produced 1.6 million ounces excluding sold at the beginning of 2013 Kazakhstan assets). In a memorandum to the company's Eurobonds from April last year said that under the terms of the license by December 2013 it had to commence the first phase of production. The license states that before the end of 2013, the company had to start mining work that has been done, and the rest - in accordance with the technical project, which is now to be confirmed, says a company spokesman.

It is difficult to guess who is currently interested in buying Polyus Gold, say banker and friend of top managers. The company is too big and has licenses for too big field, the State has agreed to sell a large stake to a foreign player, says one of them. Although in 2010 the company was in merger talks with global players. And among the Russian players hardly anyone will dare to invest in gold mining in such a market situation, saying the two sides "Vedomosti". In 2012, Polyus Gold and Polymetal (the top fiveie Russia's largest gold producers, the main owners - Alexander Nesis, the PPF Czech, Alexander Mamut) discussed the possibility of merging, but have not agreed on the evaluation of companies for such transaction. Yesterday, a representative group of ICT Nesis said that they offer to buy Gold Polyus been reported.

At the current market conditions the price of gold will not be easy to find a buyer, says Sales IFC "Metropol" Sergei Phylchenkov. It is better not to hurry with the sale and wait for prices to recover, then the company will be more expensive. Gold may start to rise in price, if, for example, the deterioration of the situation on the world markets, investors again think about this metal as a hedge of the instrument. But the fundamental opportunity to increase the capitalization of Polyus Gold - to implement all of the major projects of the company. This will help bring it to the world leaders, he said. In the first half of 2013 Polyus Gold was eighth among the world's largest gold producers.