NC “KazMunayGas” JSC has announced an open two-stage bidding for the sale of 100% stake in “Euro-Asia Air” JSC.

The starting price is KZT 11 838 766 000.

Under the terms of NC "KazMunayGas" JSC, the potential buyer need to maintain the profile of the company within five years, fulfill the obligations under the existing long-term and short-term contracts for the provision of services, retain the current number of staff and conditions within two years specified in the employment contracts between the company and its employees.

Euro-Asia Air JSC is the largest helicopter airline company in Kazakhstan, which helps to service the country's oil and gas industry. The company has the following aircraft fleet: eleven MI-8T helicopters, two AS-365N3 helicopters, two Challenger 850 (1) and Challenger 870 (1) planes, four Agusta Westland 139 helicopters.

The company's revenues for 9 months of 2016 amounted to KZT 17 529 773 000, expenses - KZT15 521 582 000, total profit - KZT1 598 537 000. Equity capital as of September 30, 2016 amounted to KZT17 029 902 000, assets - KZT26 891 755 000, liabilities – KZT 9 861 853 000.

Potential bidders may find detailed information on KazMunayGas’s asset in the data room after signing a confidentiality agreement.

The bidding applications for sale of NC "KazMunayGas" JSC are accepted until 10.00 am, July 3, 2017.

“Euro-Asia Air” JSC is placed for the sale within the privatization plan for 2016-2020. The mechanism on realization of assets has been accorded approval by the State Commission for Modernization of Economy of Kazakhstan.

More details on the bids are available at www.kmg.kz