News 2015
November 2015Privatization
Kazakhstan considers a possibility to hand over the part of shares in Eurasian Resources Group (ERG), Luxembourg and ten other companies, informs Reuters in the beginning of November, referring to couple of sources, which are close to the government.
"Kazakhstan prepares a full or partial privatization of number of the companies in the most important economical sectors: metallurgy, oil&gas, telecommunications, railway and aviation, due to Tenge devaluation and dropped prices for exported oil and metals,"-highlights the Agency. A preliminary list of the companies for sale, consists of 60 companies, including thoise to be sold through IPO.
The list, mentioned by Reuters, contains ERG (according to the Agency), owning 30 % share in KazZinc, controlled by Glencore, as well as the national airline Air Astana, with 51 % belonging to the government and its minority shareholder is BAE Systems, largest UK defense organization, shares of important fixed telephony market player Kazakhtelecom (government ons 52 % of the ordinary shares). Earlier, in October, Kazakhstan declared about possibility of partial or full privatization of three main refineries to replenish the budget and to ensure more effective work of these enterprises.