Samruk Energy sells 100% shares of EK REC and MDPGC

Samruk Energy sells 100% shares of EK REC and MDPGC

“Samruk-Energy” JSC summarized results of tender and determined the winners of open two-stage tender for sale of 100% shares of “EK REC” JSC (which includes “Shygysenergotrade” LLP) and 78.64% of “MDPGC” JSC shares.

“The tender was successful and quotations of winning bids exceeded announced starting price,” informed Kairat Maksutov, Managing Director for Economics and Finance of “Samruk-Energy” JSC.

After obtaining necessary corporate approvals and approvals of state bodies, the parties will proceed to activities on closing of the deal.

Objectivity and transparency of the process has been ensured by the Committee for assets privatization of “Samruk-Energy” JSC (Industry-specific Committee) which comprises representatives of “Samruk-Kazyna” JSC, “Samruk-Kazyna Contract” LLP and “Atameken” NCE.

The method for sale of specified assets was approved by the State Committee for modernization of the Republic of Kazakhstan economy; tender procedures were carried out in accordance with Unified Rules for disposal of assets (approved by “Samruk-Kazyna” JSC).

Assets are privatized in pursuance of the Resolution of the Republic of Kazakhstan Government dated December 30, 2015 No. 1141 “On some matters of privatization for 2016-2020”, according to which the following major assets of “Samruk-Energy” JSC were put up for sale: “Aktobe CHP” JSC; “EK REC” JSC (which includes “Shygysenergotrade” LLP); “MDPGC” JSC; “AZhC” JSC ; “APP” JSC; “AlmatyEnergoSbyt” LLP; “Tegis Munay” LLP (which includes “MangyshlakMunay” LLP).