Sanctioned Russian’s Family Sells $6 Billion Stake in Gold Miner

Said Kerimov, the son of sanctioned Russian billionaire Suleiman Kerimov, resigned from the board of gold miner Polyus PJSC on Monday, the same day his family’s holding company reduced its stake in the business to less than 50%.

Wandle Holdings Ltd., which is beneficially owned by Said, sold 40.8 million shares of Polyus to anthracite mining mogul Akhmet Palankoyev, according to a regulatory filing Wednesday. The price paid wasn’t disclosed. The value of the stake was about $6.3 billion based on Monday’s closing price.

Suleiman Kerimov

Photographer: Simon Dawson/Bloomberg

While Suleiman Kerimov has been sanctioned by the U.S., U.K. and European ...