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Russia's Prokhorov reveals sale of gold stake for $3.6 bn

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(Globalpost/GlobalPost)

Russian billionaire Mikhail Prokhorov announced on Friday that his Onexim investment holding group had sold its 37.78-percent stake in the gold producer Polyus Gold for $3.6 billion (2.7 billion euros).

The stake was acquired by an organisation controlled by Russia's lower house parliament member Zelimkhan Mutsoyev and by Gavriil Yushvayev, a former co-owner of the Wimm-Bill-Dann juice and drinks producer, Interfax reported.

Polyus Gold, a London-listed firm, has the world's third-biggest reserves of the precious metal.

The fortune of Prokhorov, a 47-year-old former Russian presidential contender, was last estimated by Forbes magazine at $13.2 billion.

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http://www.globalpost.com/dispatch/news/afp/130222/russias-prokhorov-reveals-sale-gold-stake-36-bn