Samruk-Kazyna Fund to Privatize Over 200 State Firms

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The Republic of Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund plans to place over 200 national companies on the market, Daniyar Mukhtarov writes for Trend.

The sell-off is being conducted as part of a privatization program, Chairman of the Board at Samruk Kazyna, Umirzak Shukeev said.

Specifically, those companies working in non-core business will be privatized. An example is companies producing solar panels as part of the Kazatomprom national atomic agency.

Furthermore, the sale will include firms competing on the market with private companies or those without strategic importance and not connected with national security.  Another criteria is the company’s operations cannot have any major social significance.

“As a result we have now put 209 of our 599 companies up for sale. Of those, 103 companies are for sale as part of the privatization program,  we’ve put up 50 companies for sale together with second-tier banks, 54 companies are to be liquidated, and 20 more will be re-organized and handed over to state agencies,” Shukeev said.

Read more at Trend