Deals
Petropavlovsk Open to Merger With Vekselberg’s Gold Unit
- Gold’s advance encourages consolidation, CEO Maslovskiy says
- No talks have been held with billionaire Viktor Vekselberg
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Petropavlovsk Plc’s chief executive officer expects higher gold prices to encourage mergers in the industry and sees “big potential” for the Russian miner to consolidate with billionaire Viktor Vekselberg’s bullion unit.
"The market is starting to welcome mergers,” Pavel Maslovskiy, CEO and co-founder of Petropavlovsk, said in an interview in Moscow. “While gold prices were low that was on the backburner, but it’s coming to the fore again now.”