OREANDA-NEWS Polymetal International, a gold mining company, is selling the Russian business to the Mangazeya company structure based on an estimate of $3.69 billion, Polymetal reports.

"The deal will be implemented by selling 100% of shares of JSC Polymetal (the holding company of the group's Russian assets) to JSC Mangazeya Plus. Under the terms of the deal, Polymetal JSC is valued at $3.69 billion, including external and intra-group debt...", the message says. The company expects the deal to be closed by the end of March 2024.