Polymetal has entered into an agreement to sell its Russian business to Sergey Yachunkov's Mangazeya Group for $3.69 bln, including $2.2 bln of debt. Amount of the deal includes $1.43 billion of dividends to be paid to Polymetal before the deal closes. Cash proceeds in favor of Polymetal upon completion of the sale are estimated at $300 mln. These funds will be used for construction of Irtysh MMC in Kazakhstan and improvement of liquidity. Completion of the transaction is expected by the end of March 2024.
Polymetal has entered into an agreement to sell its Russian business to Sergey Yachunkov's Mangazeya Group for $3.69 bln, including $2.2 bln of debt. Amount of the deal includes $1.43 billion of dividends to be paid to Polymetal before the deal closes. Cash proceeds in favor of Polymetal upon completion of the sale are estimated at $300 mln. These funds will be used for construction of Irtysh MMC in Kazakhstan and improvement of liquidity. Completion of the transaction is expected by the end of March 2024. 
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