JSC ‘Samruk-Kazyna’ plans to sell the shares of group companies in Charter capital of JSC "Vostokmashzavod" (VSW) and the stake in the Charter capital of Intergas Finance B. V. by the end of the year.
The implementation of the small assets is carried out within the framework of the Comprehensive privatization plan for 2016-2020, approved by Government decision №1141 from 30.12.15 G. Both transactions are planned to be carried out by direct targeted sales.
The value of the assets is estimated at a total amount of KZT117 million. Funds from the implementation of the privatization program will be distributed on the basis of the decision of The sole shareholder of the Fund Of the government of the Republic of Kazakhstan.
Recall that JSC "Vostokmashzavod" is a machine-building complex, put into operation in 1958 in Ust-Kamenogorsk, in the vicinity of the main objects of the mining and metallurgical industries of Kazakhstan. The complex is equipped with all technological processes of a full machine-building cycle from foundry furnaces to mechanical processing of manufactures to finished products. The parent company of the joint-stock company is "Kamkor Repair Corporation" LLP, owned by JSC " NC "KTZ".
Intergas Finance B. V.-the sole shareholder of the company is JSC "KazTransGas", owned by JSC NC "KazMunayGas". The main type of activity is financing companies, raising funds through the issuance of bonds, Bank financing, and so on.
Note that at the moment the privatisation plan, approved by the government of Kazakhstan, completed on 84%: implemented – 89 assets restructured – 11 and liquidated – 42. Currently, 8 large and 18 medium-sized companies of JSC "Samruk-Kazyna"are involved in the withdrawal process.