Samruk-Kazyna, the Kazakh sovereign fund, plans to float KMG
next year as part of the government's privatization program.
This could be marginally credit positive for NC KMG
if the additional cash was used to reduce the group's high debt burden.
Aided by 120-mt and 200-mt-capacity cranes, the shovel was rebuilt over seven days by a team of three KMG
drew on its revolving credit facility to finance the acquisition.
moved into the downtown area at the beginning of 2016 with a short term 13-month lease.
E&P runs independently of the holding firm, which has been owning 32% the LSE-listed firm since the latter's 2006 IPO.
UzenMunaiGaz (UMG), an affiliate of KMG
EP, has an output of 90,000 b/d, down from over 140,000 b/d in 2006.
Kazakh government leaders had since 2009 been saying that a 10% KMG
stake in Karachaganak would help resolve all of KPO's problems with the state over arrears and new claims.
Taeda NC KMG KMG
EP "submitted an offer to purchase KMG
is a proposal to purchase all the shares and relationship with the Charter and the span of the contract does not apply to any other changes in the proposed agreement" to the NC KMG
believes that it is necessary to introduce amendments.
Under the terms of the acquisition agreement, KMG
and Nagase Singapore Ltd.
Wholly state-owned NC KMG
is a holding company for Kazakhstan's (BBB+/Stable) interests in the oil & gas sector, including upstream, transportation and refining operations.
In our view, if KMG
were to default, this would have strong negative implications for the government of Kazakhstan and for other GREs in the country.