January 29, 2014 / 5:16 AM / 4 years ago

Russia's Kerimov denies plans to exit Polyus Gold

MOSCOW, Jan 29 (Reuters) - A spokesman for tycoon Suleiman Kerimov denied a report on Wednesday that the businessman was looking for buyers for his 40.22 percent stake in Russia’s biggest gold miner Polyus Gold.

The spokesman for Kerimov’s investment vehicle, Nafta Moskva, said a report in Russian daily Vedomosti, which cited sources close to the businessman, “had no basis in fact”.

“This is not true, we are not searching for a (Polyus Gold) buyer,” he said.

Vedomosti reported that Kerimov, Polyus Gold’s largest shareholder, had been looking to sell his stake since last autumn, but has failed so far to find a buyer.

Kerimov, 47, has been selling out of his businesses, including a 21.75 percent holding in potash giant Uralkali and a 36 percent stake in Russia’s biggest homebuilder PIK.

Uralkali pulled out of a potash cartel with Belarus in July, upsetting the market and infuriating the former Soviet ally.

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