The Chinese Fosun will not enter the capital of the gold mining company Polyus, as expected. According to a report by Polyus and the selling shareholder Polyus Gold International Limited (PGIL), the deal to sell the Chinese company a 10% stake in the company and an option for another 5% was canceled due to the failure to fulfill the preliminary condition (it is not called).

Polyus Gold International Limited (owns 82.44% stake in PJSC Polyus), Saida Kerimova decided to terminate the deal to sell 10% of the capital of the Chinese company Fosun (including the option by an additional 5%) after one of the preconditions according to the deal, PGIL and Polyus said. Which condition was not met, is not reported. "After the precondition was not fulfilled, the parties discussed further opportunities, but did not reach consensus, and therefore PGIL proposed to terminate the agreement," it was reported. Canceled as a transaction to sell 10% of Polyus' capital, and an option to purchase another 5%. Shares of "Polyus" on the Moscow stock by 12:00 pm Moscow time fell by 3.56%, to 4,172 thousand rubles.

In the "Pole" and Fosun declined to comment. Sources of Kommersant, who are familiar with the situation, say that a number of factors influenced the deal, including the fact that not all the participants in the consortium were approved by the PRC authorities.

The deal was announced in May 2017, Fosun expected to buy 12.56 million shares of Polyus at a price of $ 70.6 per share, based on a valuation of Polyus of $ 9 billion, the deal was expected to be closed by the end of 2017. In addition, until May 2018, Fosun had the right to exercise the option by another 5%, with an option totaling $ 1.38 billion. In order to attract a Chinese investor, Polyus was prepared to change its dividend policy by promising to pay 30% of EBITDA, but not less than $ 550 million in 2017-2019 and $ 650 million in 2020-2021.