Polymetal International Plc, a Russian gold and silver producer in London’s FTSE-100 index, sees zero chance of a merger with Polyus Gold Ltd. as the trend for large combinations in the industry is over.
Russian billionaire Alexander Nesis , an investor in OAO Polymetal and OAO Uralkali , plans to spend $1 billion on a railcar-factory project to meet domestic demand for transporting raw materials from mines and smelters.
Billionaire Mikhail Prokhorov’s Onexim Holdings Ltd. agreed to sell his stake in Polyus Gold International Ltd. to investors as he diversifies away from commodities, said three people with knowledge of the plan.
Billionaire Suleiman Kerimov and his partners in OAO Uralkali, the largest potash producer, sold bonds to China’s sovereign wealth fund and VTB Capital that can be exchanged for shares valued at about $3.2 billion.
PPF Group NV, the private-equity firm controlled by Czech billionaire Peter Kellner, sold its 26.5 percent stake in Nomos Bank, becoming the latest international investor to retreat from Russia’s banking industry.
The billionaire owners of Polyus Gold International Ltd. and Polymetal International Plc are considering merging the Russian gold miners as Polyus seeks a primary listing in London, two people with knowledge of the matter said.