1 Mrd $ Gewinn durch Verkauf des Gold Fields Anteils für Norilsk Nickel oder Polyus Polyus sells Gold Fields stake Allan Seccombe Posted: Thu, 02 Mar 2006 [miningmx.com] -- POLYUS, the Russian gold producer, has sold its 20.2% stake in Gold Fields, leaving the South African company independent as investors snapped up the shares, Gold Fields spokesman Willie Jacobsz said on Thursday. "Polyus is placing their block of shares on the market. They are doing a book build which should be finished today," Jacobsz told Miningmx from New York. "It's being broken up in the market. Hundreds of shareholders are buying pieces of it," he said, adding institutions in Europe and North America were acquiring the shares. Bankers Goldman Sachs and Citigroup were handling the sale. The Gold Fields shares were sold by Jennington International, a wholly-owned subsidiary of Polyus, a statement from the two banks said. Norilsk Nickel, which is in the process of spinning out its gold assets in Polyus, bought the stake for $1.2bn from Anglo American two years ago to the month. "That stake is now worth more than $2.2bn. They need the money to put into Polyus, we assume, to grow Polyus," Jacobsz said. Norilsk has three of its members of the Gold Fields board and their future will be reviewed at some point in the future, he said. The relationship between Gold Field, Polyus and Norilsk is sound, Jacobsz said. "Our relationship has been a very good one of late. Them no longer holding a 20% stake does not preclude us from cooperating or working with them in the future. The relationship with them does not necessarily end here," he said. The relationship between Gold Fields and Norilsk soured from October 2004, when rival South African gold miner Harmony won an irrevocable undertaking from Norilsk to support it in its hostile takeover bid for Gold Fields. The bid failed, leaving Harmony with an 11.6% stake in Gold Fields. Harmony sold the last of its shares in Gold Fields on the open market last November, removing it as the second-largest shareholder in the world's number four gold producer. Gold Fields shares ended Thursday's session on the Johannesburg bourse three percent down as investors fretted about a possible overhang of the company's shares. http://www.miningmx.com/gold_silver/938035.htm
