Russia Fails Second Attempt to Sell 67.2% Stake in Gold Producer UGC, Initial Price 1.62 Trillion Rubles

GateNews

According to Russia's Federal Property Management Agency (Rosimushchestvo), the government failed for the second time on May 26 to auction its stake in gold producer Uzhuralzoloto (UGC), which was seized last year. The auction, targeting a 67.2% stake, had an initial asking price of 1.62 trillion rubles (approximately $2.2 billion).

This marks the second unsuccessful attempt following a failed sale in early May, when no bids were received for the asset of merchant Konstantin Strukov.

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