KazMunayGas plans to sell a half of its stake in Kashagan
Edited by Rhod Mackenzie / 2015-07-01 08:41:54
KazMunayGas plans to sell a half of its stake in the Kashagan deposit. The buyer is the NWF Samruk-Kazyna. The value of its stake is assessed at $4.7 bln.
KMG has announced of its plans to sell a half in KMG Kashagan B.V. which holds 16.88% in Kashagan to the NWF for $4.7 bln and use these funds to settle a part of its debt. In case of the completion of the deal it will help KMG to improve its financial state in the mid-term perspective. We consider this deal as an evidence of continuation of supporting the company and the “stable” forecast means that the deal is likely to be completed, Fitch Ratings reports.
