Gold Buyers

Two companies are already vying for 7.4% of Polyus shares

The KM Invest fund, which manages the assets of Vladimir Potanin and Mikhail Prokhorov, who are at the stage of a conflictual division of the business, did not have time to put up for sale a 7.4% stake in Polyus Gold, but buyers already appeared for this package. In addition to the attention from the structures of the entrepreneurs themselves, the Alliance group announced its interest in the asset yesterday and has already sent a corresponding proposal to the general director of KM Invest, Rafael Akopov. Almost simultaneously, information appeared that Nafta Moskva, a company owned by entrepreneur Suleiman Kerimov, was vying for this stake. KM Invest told Vremya Novostei that they have not received any proposals from anyone and are not negotiating with anyone.

As you know, on December 19, the board of directors of KM Invest, at the initiative of Mr. Potanin, approved the sale of a 2% stake in Norilsk Nickel (in total, the fund owns 8% of shares), as well as the entire stake (7.4% of shares) in Polyus Gold. . Mr. Prokhorov's representatives voted against it, but since Mr. Potanin heads the board of directors, his vote was decisive. Mr. Prokhorov's Onexim group told Vremya Novostei yesterday that they still oppose the sale of Polyus Gold shares, but refrained from commenting on the possible acquisition of this stake.

The Alliance group is a diversified holding created in 1998 by ex-president of Sidanco Ziya Bazhaev (after his death, the group is headed by his brother Musa, the group belongs to members of his family). Today, the Alliance includes more than 30 enterprises located in the Far East, Tatarstan, Dagestan, north-west Russia, Ukraine, Kazakhstan and Kyrgyzstan. The assets are managed by two main structures - the oil company Alliance and Alliance-Prom. In addition to the fuel and energy complex, the group operates in such industries as transport, agro-industrial and forestry complexes, media, as well as in the market for comprehensive crisis management services.

Alliance already has gold assets. At the beginning of December, Alliance-Prom consolidated 94% of the shares of the Amur prospecting team (second place in Russia after Norilsk Nickel in platinum mining). “Increasing the share in one of the leading enterprises in the gold mining industry in Russia is another step by Alliance towards diversification of activities and consistent growth in the real sector of the economy of the Far East,” the group said in a statement. “In order to further develop its activities in the field of precious metals mining, Alliance intends to continue to acquire mining assets.”

However, Suleiman Kerimov is also interested in developing the business of mining precious metals. As you know, in the fall of 2005, Nafta Moskva acquired 100% of Polymetal, Russia's largest producer of precious metals.

Meanwhile, experts do not believe that the contenders for Polyus Gold really have far-reaching plans. “Rather, this is an investment for a year or two, and then these shares will be resold on the market,” says Uralsib analyst Dmitry Smolin. Another option is also possible: the buyer of Polyus Gold shares will be backed by one of the company's main shareholders - Messrs. Potanin or Prokhorov. One way or another, KM Invest does not rule out that the Polyus Gold stake could be sold before the end of the year.

Irina TSYRULEVA