Russia Lacks Legal Path for UGC Buyout Proposal

Russia's state property agency revealed that the country's legislation currently lacks a legal framework to facilitate a buyout proposal to minority shareholders of gold miner UGC.

In light of this, the agency has been engaging with the central bank, finance ministry, general prosecutor's office, and UGC shareholders to navigate the situation.

This move underscores the complexities involved in corporate dealings within the Russian jurisdiction, potentially impacting UGC's strategic operations.

(With inputs from agencies.)