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

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.

UPDATE 3-Billionaire duo shortlisted for $4 bln Polyus stake

* Mutsoyev, Yushvayev looking to buy out Prokhorov * $4 bln deal now before UK Takeover Panel * Report fuels speculation of all-Russian gold merger * Kerimov supports deal, flush with cash - sources By Polina Devitt and Megan Davies MOSCOW, Jan 29 (Reuters) - Two Russian billionaires have been shortlisted to buy a stake in Polyus Gold, sources said, in a deal which could pave the way for a merger with rival Polymetal to create a national gold mining champion.
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