International law firm Freshfields Bruckhaus Deringer has advised Receza Limited, a company controlled by Mr Gavril Yushvaev, on the acquisition of a 19.28% interest in Polyus Gold International Limited (‘Polyus Gold’) from Onexim Group.
The Freshfields team in Moscow was led by corporate partners Mikhail Irzhevsky and Neil Radford and senior associate Maria Borodina, working with London corporate partner Martin Nelson-Jones and senior associate Graham Kirk.
Polyus Gold is the largest gold producer in Russia and one of the top 10 largest gold mining companies in the world by output (in 2012, production totalled 1.68 million ounces). The company has the third largest reserves in the world (with proven and probable reserves of 90 million ounces). The main facilities of Polyus Gold are located in the mining regions of eastern Siberia and the Russian Far East and include five active mines, gold deposits and a series of projects in the construction and development phase. Shares in Polyus Gold International Limited are traded in the premium segment of the London Stock Exchange.
This deal demonstrates the firm’s expertise in advising on transactions involving acquisitions of significant stakes in listed companies and cements its market leading track record in advising clients on deals in the mining and metals sector. The firm is currently advising Xstrata on its all-share merger of equals with Glencore International.
