"Samruk-Energy" JSC has announced an open two-stage bidding for the sale of 100% stake in "East Kazakhstan Regional Energy Company" JSC and 78.64% stake in “Mangistau Electricity Distribution Company” JSC.
"East Kazakhstan Regional Energy Company" JSC transmits electricity in the East Kazakhstan region. The length of the company's networks is 34 552.14 km. It is realized jointly with "Shygysenergotrade" LLP.
“Mangistau Electricity Distribution Company” JSC transmits electricity in Mangistau region and serves six energy zones. The length of the networks is 6,170 km. Consumers are large oil producing companies in the region (90% of the customer base).
The starting price of 100% stake in "East Kazakhstan Regional Energy Company" JSC is KZT 9.5 billion; 78.64% stake in “Mangistau Electricity Distribution Network” JSC – KZT 7.3 billion.
Under the terms of auction prepared and approved by "Samruk-Energy" JSC, potential buyers need to maintain the activities of energy companies and fulfill the investment obligations.
On the first stage, the bidding applications for sale of “East Kazakhstan Regional Energy Company” JSC and “Mangistau Electricity Distribution Network” JSC are accepted until 15.00 hours on June 23, 2017. Based on the results from the first stage bidding, "Samruk-Energy" will decide on the list of bidders who meet the relevant qualification requirements and criteria for evaluation of bids in the second stage.
Results of the second stage for the sale of “East Kazakhstan Regional Energy company” JSC and “Mangistau Electricity Distribution Network” JSC will be announced on July 20, 2017.
Potential bidders may find detailed information on the assets of "Samruk-Energy" JSC in the data room after signing a confidentiality agreement.
Energy assets are 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.samruk-energy.kz