MOSCOW, April 20 (Reuters) - The Russian property agency said on Monday it had valued a 67.2% stake in gold producer UGC at 140.4 billion roubles ($1.85 billion) ahead of an auction to sell the stake,
Russia Sets $1.9 Billion Value for Seized UGC Stake Ahead of May Auction
Russian Government Prepares for UGC Stake Auction
Valuation and Auction Details
MOSCOW, April 20 (Reuters) - The Russian property agency said on Monday it had valued a 67.2% stake in gold producer UGC at 140.4 billion roubles ($1.85 billion) ahead of an auction to sell the stake, which will be held at the start of May.
Background on Seizure
In July 2025, a Russian court ruled that the majority stake previously owned by businessman Konstantin Strukov should be transferred to the state.
Context of Nationalisations
The move was part of a wider pattern of nationalisations of assets of Russian companies and of Western firms exiting Russia. Last year, Moscow law firm NSP estimated that authorities had confiscated private assets worth some $50 billion since the start of the conflict in Ukraine.
Implications for Shareholders
The central bank said last October that the state had violated the rights of minority shareholders in UGC by not making an offer as required by law after the seizure. The new owner of UGC is expected to make the buyout offer after the purchase.
Market Factors and Auction Timing
The auction was due to take place last year but was delayed as gold prices rallied and the state targeted a higher price for the stake. At current market prices the stake is valued at $1.6 billion.
($1 = 76.0000 roubles)
(Reporting by Anastasia Lyrchikova; Writing by Gleb Bryanski; Editing by Susan Fenton)
