January 29, 2013 / 7:01 AM / 5 years ago

Billionaire duo shortlisted for Polyus stake-sources

MOSCOW, Jan 29 (Reuters) - Billionaires Zelimkhan Mutsoyev and Gavriil Yushvayev have been shortlisted as possible buyers of a 38 percent stake in Russia’s largest gold miner, Polyus Gold International Ltd, three sources familiar with the matter said on Tuesday.

Tycoon-turned-politician Mikhail Prokhorov is looking to sell his $4 billion stake in London-listed Polyus, and a proposed deal is now being reviewed by the U.K. Takeover Panel.

At issue is whether the buyers are acting independently, or whether they form a so-called “concert party” with Suleiman Kerimov, who owns 40 percent of Polyus. In the latter case, a deal would trigger a mandatory offer to buy out minorities.

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