April 12, 2017 / 6:49 PM / in a year

China's Fosun plans to buy stake in Russia's Polyus: Interfax

MOSCOW (Reuters) - China’s Fosun International Ltd (0656.HK) plans to sign an agreement to buy a stake in Russia’s largest gold producer Polyus (PLZL.MM), Interfax news agency quoted Russian First Deputy Prime Minister Igor Shuvalov as saying on Wednesday.

Fosun International Ltd services are displayed at a news conference in Hong Kong, China March 29, 2017. REUTERS/Bobby Yip

He did not provide further details on the deal. Sources with knowledge of the matter told Reuters in November that Fosun was in exclusive talks to buy a large minority stake in Polyus.

Shuvalov also said that aluminum giant Rusal (0486.HK) could soon announce the placement of the second tranche of its Chinese yuan-denominated bond, known as a Panda bond. Rusal placed its first tranche of the Panda bond in March.

Reporting by Polina Devitt; editing by Susan Fenton

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