Inter RAO Group to transfer share in Ekibastuz GRES-2 to Kazakh Samruk-Kazyna
Baku, Azerbaijan, July 24
By Nargiz Sadikhova - Trend:
Sovereign Wealth Fund Samruk-Kazyna of Kazakhstan is to purchase 50 percent of the share in Ekibastuz GRES-2 Power Station from Inter RAO Group, Trend reports with reference to the press office of the fund.
“Thus, 100 percent of the power station’s shares will now belong to the fund. The implementation of the deal is to be finished before the end of 2019 in accordance to the roadmap of the project,” the report said.
“Inter RAO is selling its share under market conditions; however, the price of the deal cannot be disclosed before it is finished,” the message said.
“Furthermore, the purchase of the asset is logical considering the fact that the fund already has 50 percent of the power station's shares in possession. The closure of the deal also depends on a number of conditions that are to be met, including approval of the deal be the parties’ governance, receipt of the approval of power stations’ creditor banks and so on,” the report said.
" Inter RAO commented their decision for the sale by saying that the group plans to concentrate on their key market in Russia. Thus, following the sale, Inter RAO will have no assets left in Kazakhstan,” the statement said.
Follow the author on twitter: @nargiz_sadikh