Kazakh KazAgro plans to sell about 50 subsidiary companies
Baku, Azerbaijan, July 31
By Elena Kosolapova - Trend: Kazakh agricultural holding KazAgro plans to sell 48 subsidiary companies within the second wave of privatization in the country, Novosti-Kazakhstan reported.
"A total number of 48 companies put up far sale within the second wave of privatization. The majority of them are micro-credit organizations," KazAgro's Deputy Chairman Kairat Aytuganov said.
These micro-credit organizations were earlier created in many regional centers for financial support of local agricultural producers.
"These companies will be sold in the second half of 2014. They will find a ready market," Aytuganov said.
The holding is preparing the necessary documents for the deals, according to Aytuganov. Three of the microcredit organizations have been already sold.
He noted that KazAgro will not receive real profit from the sale of the subsidiary companies.
"We sell them almost at face-value," he said.
In total Kazakhstan plans to sell about 800 state-owned companies and companies of quasi-public sector within the second wave of privatization. The privatization will be implemented in line with Kazakh President Nursultan Nazarbayev's order.
Edited by C.N.