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Czech PPF Group sells 4.5% stake in Russia's Polymetal

Reuters - UK Focus
Updated

MOSCOW, July 10 (Reuters) - PPF Group, owned by the Czech Republic's richest businessman Petr Kellner, has sold a 4.5% stake in Russian gold and silver producer Polymetal, a bookrunner for the deal said on Wednesday.

PPF Group, which now owns 6.5% in the Russian company, sold about 21 million shares in Polymetal at a price net of fees of £9.66 ($12) per share. The price is a 4.5% discount to the market price. The settlement of the placing is expected to take place on July 12.

($1 = 0.8030 pounds) (Reporting by Polina Devitt and Arno Schuetze; editing by Deepa Babington)