The Moscow, London, Hong Kong, and Shanghai offices of Debevoise & Plimpton have advised Polyus Gold International Limited in connection with its agreement to sell an up to a 15% stake in PJSC Polyus for a total consideration of up to approximately USD 1.4 billion to a consortium led by Fosun International Limited and including Hainan Mining Co., Ltd and Zhaojin Mining Industry Company Limited. Norton Rose Fulbright advised the buyers.
PJSC Polyus is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced. The company also holds the fourth largest mineral resources base in the world. Polyus Gold International Limited (a Jersey company) is the principal shareholder of PJSC Polyus, owning 91.73% of its ordinary shares.
The Fosun Group was founded in 1992 in Shanghai. Fosun International Limited was listed on the main board of the Hong Kong Stock Exchange on July 16, 2007. As at December 31, 2016, Fosun’s total assets exceeded RMB 480 billion.
The Debevoise team advising on the sale of shares was led by Moscow-based Partner Alan Kartashkin and international Counsel Maxim Kuleshov, and included London Partner David Innes, Hong Kong Partner William Chua, Moscow Associate Gareth Fenney, London Associate Thomas Matthews, Hong Kong Associate Wen-Wei Lai, and Shanghai Associate Fengjian Ao.
The Norton Rose Fulbright team was led by Partner Julian Traill, and consisted of a Moscow-based team of Partner Aydin Jebrailov, Of Counsel Janna Smirnova, and Senior Associate Anastasia Kastelskaya, and a Hong Kong team of Partner Emme de Ronde and Senior Associate Andrew Fisken.