State commission approves privatization mechanisms of the Fund’s 13 assets

A meeting of the State Commission on Economy Modernization of the Republic of Kazakhstan (hereinafter - the Commission) took place on September 20, 2016, during which 13 assets of «Samruk-Kazyna» JSC (hereinafter - the Fund) from the second list have been decided to sell through the electronic auction. In particular, the following seven companies 100 percent stake in «Bas Balkhash 2004» LLP, «MAK-Ekibastuz» LLP, «Centre of transport services» JSC, «Rauan Burabay» LLP and «Magistral Kyzmeti» LLP; 50 percent stake in “KazElectroPrivod” LLP and 90 percent stake in “Regional Forward Logistics” belonging to NC «KTZ JSC» will be placed on auction. 

100 percent stake of «NC» Kazakhstan Engineering «JSC in “Instrument-Producing Plant “Omega” JSC and “832 Auto repair plant KE” JSC as well as 42.13 percent stake in «ZIKSTO» JSC will be privatized through electronic auction.

«United Chemical Company» JSC sells 25 percent stake in «UCC Engineering» LLP on the electronic auction. «NC» KazMunayGas» JSC will auction 12.87 percent stake in “Kaskor-TransService” JSC which owns “Semurg Invest Temir Zholy” LLP.

It should be noted that the Fund sells 216 assets (or share in the asset) in the framework of the Comprehensive privatization plan for 2016-2020 approved by the Government of the Republic of Kazakhstan on December 30, 2015.  The assets are divided into two lists. The first list includes 44 strategic assets that will be implemented in 2018-2020. The privatization of 172 non-core assets has been started from 2016. At the moment 33 objects from the second list were sold. The repeated public announcements of e-auctions are made for eight legal entities. The realization process of four subsidiaries of KMG International N.V. is in closing stage. Five companies out of 12 assets are subject to reorganization. 14 of the 59 assets are liquidated. The amount of the sale of assets as part of the Comprehensive privatization plan is 7.3 bln. tenge.

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