The Federal Antimonopoly service (FAS) Russia has satisfied the petition of the gold mining company Petropavlovsk PLC on the acquisition of 100% stake in the company Amur Zoloto. This was reported by Business News Agency PRIME.
As noted by FAS, the transaction stated in the petition, will not lead to restriction of competition.
Earlier, in April, Petropavlovsk announced its intention to purchase “Amur Gold from the Alliance Mining Group and Lexor Group SA of Musa Bagaev. Then the transaction amount was estimated at 144 million dollars, which the company intended to pay by additional issue of its shares. The transaction structure of Musa Bagaev had to 30.3% of the shares of Petropavlovsk.
The main assets are concentrated in Petropavlovsk in Amur region, where there are four mining and hydrometallurgical plant – Pokrovsky Rudnik, Pioneer, Malomyr and Albyn. By the end of 2015, the company decreased gold production by 19.3% to 504.1 million ounces (15.7 tons).