Highest GV Gold

History

2021: UMMC bought the company "Highest"

November 1, 2021 it became known about the sale of the company "Highest" Ural Mining and Metallurgical Company (UMMC). The latter sent a corresponding petition to the Federal Antimonopoly Service. The financial and other parameters of the transaction are not disclosed by its participants.

The possibility of acquiring GV Gold was considered  by the Chinese company Fosun, the structure of billionaire Roman Trotsenko and Kazakh businessman Kenes Rakishev,   Interfax writes. According to the source of the news agency, the former top manager of PIK Vladislav Sviblov was also thinking about buying a gold miner.

UMMC bought one of the largest gold miners in Russia

The sale of the "Highest" became known a few months after the company officially announced plans to enter the exchange. The corresponding statement was made on March 15, 2021, but already on March 26, one of the largest gold miners in Russia announced the postponement of the IPO indefinitely "due to the increased level of market volatility in both the global and Russian capital markets."

According to RBC, the Highest planned a listing on the Moscow Exchange and hoped to raise about $500 million thanks to this transaction. The company was estimated at about $1.5 billion, the publication wrote.

Prior to the transaction with UMMC, the main shareholders of the Highest were Sergey Dokuchaev, Natalia Opaleva and Valerian Tikhonov (more than 61% of the shares in total), as well as the American BlackRock Fund (18%). By the beginning of November 2021, the Highest is one of the ten largest gold mining enterprises in Russia. The company operates in the Irkutsk region and Yakutia, where production assets are located and geological exploration is carried out by the UMMC - the largest zinc producer in Russia, as well as the country's second enterprise in terms of copper production.^[1]

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