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ASTANA-LONDON. February 16. KAZINFORM Eurasian Natural Resources Corporation PLC (ENRC), the leading holding company in the sphere of extraction and enrichment of commercial minerals, located in Kazakhstan, announced on purchase of 25% stake of Shubarkol Komir JSC for USD 200 mln in cash, Kazinform refers of the press service of the company. Shubarkol Komir JSC is one of the biggest producers of steam coal in Kazakhstan. It is the local producer of low temperature coke as well. Controlling interest in Shubarkol Komir JSC belongs to Eurasian Financial-Industrial Company CJSC a private company of three share-holders-founders of the ENRC. Due to this acquisition the ENRC signed an offtake agreement with Shubarkol Komir JSC, gained a seat in its board of directors and signed corporate agreement with the Eurasian Financial-Industrial Company. The ENRC management considers that the bargain increases the cost of shares for all ENRC share holders. Buying of Shubarkol Komir JSC guarantees further strategic development of the Group in the region. Besides, it strengthens integrated business model of the ENRC, providing with sustainable and cost-effective resource of high quality steam coal and low temperature coke, the Chief Executive Director of the ENRC said commenting on the bargain.


Resourse: KAZINFORM







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