VTB Capital and CITIC Group have started to work on Eurasia’s behalf, but no engagement letter has been signed and no success fees have been agreed
() said it continues to progress conversations with investments banks VTB Capital and CITIC Group regarding potential partnerships.
The miner said last month the two banks had expressed interest to assist with “strategic options” at its Kola and Urals mining assets.
As of Monday, VTB Capital and CITIC Group have started to work on Eurasia’s behalf, but no engagement letter has been signed and no success fees have been agreed.
“There can be no guarantee that any transaction will occur nor that there can be any guarantee as to the value that could be achieved for any of the assets in any potential transaction,” Eurasia said in a statement.
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