Kazakhstan Railways sells 3 companies
Astana, Kazakhstan, Oct. 16
By Daniar Mukhtarov - Trend:
Three companies within the Kazakhstan Railways were sold as part of the privatization process, the Kazakh national welfare fund Samruk-Kazyna said Oct. 16.
The Yertys Service LLP, the MAK-Ekibastuz LLP, and the Kazykurt-South LLP were sold for a total amount of 2.6 billion KZT (nearly $14 million on Oct. 16), the welfare fund said.
The Yertys Service LLP was sold for 703.8 million KZT, or 15 percent higher than the starting price, the Kazykurt-South LLP - for 960.5 million KZT, or 1.6 times higher than the starting price, the MAK-Ekibastuz LLP - for 1.02 billion KZT, or 3.6 times higher than the starting price.
"Four investors were interested in acquiring the Yertys Service LLP, seven investors - in the Kazykurt-South LLP, and six investors - in the MAK-Ekibastuz LLP," the welfare fund said.
"The potential buyers increased prices on these companies by 12, 50 and 55 times respectively, which also indicates high interest in these assets," the welfare fund added.
The deals on the sold companies are expected to be closed in two months.
The assets, bidding for which is invalidated, will be on sale again in the next 10 days.
The national welfare fund said that in total, seven companies within the Kazakhstan Railways were put up for sale via electronic tender.
The electronic tenders for the sale of the BAS Balkhash 2004 LLP, the Birzhan-Atyrau LLP, the Gasyr-Mangystau LLP and the AK Beren LLP were declared invalid due to lack of participants.