Polyus Gold, KazakhGold shelve RTO for now

摘要

Russia's Polyus Gold and Kazakhstan's KazakhGold have scrapped a planned reverse takeover (RTO) of Polyus Gold, KazakhGold said in a statement. "KazakhGold and Polyus Gold announce that the Private Exchange Offer under the terms previously announced on June 30, 2010 has been terminated. KazakhGold and Polyus Gold are continuing to seek a resolution of the issues raised by the Kazakh authorities in relation to the consents required for the Private Exchange Offer, but have concluded that they will be unable to reach a resolution of these issues by October 29, 2010, the date on which the Private Exchange Offer was scheduled to close," KazkahGold said.