Kazakh Samruk-Kazyna to sell 13 subsidiaries

Business Materials 22 September 2016 14:41 (UTC +04:00)

Baku, Azerbaijan, Sept. 22
By Elena Kosolapova - Trend:
Kazakh National Wealth Fund Samruk-Kazyna will sell 13 its subsidiaries through an online auction, the fund reported on Sept. 22.
The mode of the sale was approved by the state commission.

In particular, it is planned to sell 100 percent stake in such companies as Bas Balkhash 2004, MAK-Ekibastuz, Centre of transport services, Rauan Burabay and Magistral Kyzmeti; 50 percent stake in KazElectroPrivod, 90 percent stake in Regional Forward Logistics. All this companies are owned by Samruk-Kazyna through Kazakh railways company.
Moreover it is planned to sell 100 percent stake in Kazakhstan Engineering, Omega instrument-making plant, 832 auto repair plant as well as 42.13 percent stake in ZIKSTO company.

United Chemical Company owned by Samruk-Kazyna will sell 25 percent stake in UCC Engineering, KazMunaiGas will sell 12.87 percent stake in Kaskor-TransService which owns Semurg Invest Temir Zholy company.

Within the privatization plan for 2016- 2020, approved by Kazakh Government, Samruk-Kazyna plans to sell its shares in 216 subsidiaries.

Samruk-Kazyna Fund brings together almost all of Kazakh state-owned assets and manages these assets on behalf of the government. National oil company KazMunaiGas, the railway operator - Kazakhstan Temir Zholy, Kazakhstan Electricity Grid Operating Company (KEGOC), Kazakhtelecom telecommunications operator, National Atomic Company Kazatomprom are among these assets.

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