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Polyus Gold Is To Get 50.1% in KazakhGold UPDATE

Polyus' board voted unanimously for the Kazakh acquisition

According to conditions agreed by both sides of the deal, 70% will be paid with shares and 30 percent by cash.

Onexim Group, a major shareholder in Polyus Gold is cited as a newsmaker.

One of the owners of the company, Russian billionaire Mikhail Prokhorov also announced that one of the owners might change. He meant another billionaire Suleiman Kerimov, who is going to bid for the 35 percent held by billionaire Vladimir Potanin.

Meanwhile, Polyus Gold shares have recently risen by more than 40 percent.

Author: Ksenia Kochneva