Samruk-Kazyna Buys Stake in Kazzinc

February 7, 2013

Samruk-Kazyna has taken a 29% stake in Kazzinc, a Glencore-controlled zinc producer, for an undisclosed price. Glencore International AG owns 69.61% of Kazzinc. The shares were purchased from Verny Capital JSC, a private equity company.

Founded in 1997, Kazzinc was founded by the merger of Eastern Kazakhstan’s three core non-ferrous metal companies which were owned by the government of Kazakhstan. The controlling block of shares of Kazzinc was sold to Glencore International AG and to other private sector shareholders back then.

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