Samruk-Energy JSC has summed up the results of open two-stage competitive bidding for the sale of 100% stake in East Kazakhstan Regional Electricity Company JSC which comprises Shygysenergotrade LLP, and 78,64% ofMangistau Distribution Power Grid Company JSC.
“Bids offers from domestic business, exceeded the initial announced price by an average of 10%,” Kairat Maksutov, Managing Director for Economy and Finance of Samruk-Energy JSC, commented.
The parties will proceed to executing the deal after obtaining corporate approvals and approvals from state bodies. Open two-stage competitive biddings for sale of distribution power grid companies were held in July this year.
Concurrently, Samruk-Energy JSC carries out procedures on closing the deal on sale of 100% stake in Aktobe CHP JSC, which is planned to be completed before the end of this year.
EK REC JSC is one of the largest regional power transmission companies in Kazakhstan. The length of grids is over 34.5 thousand km. The area of the serviced territory is 283 thousand sq.km, the number of customers is circa 500 thousand.
MDPGC JSC is the largest natural monopoly entity which is engaged in transmission and distribution of electricity in Mangistau region. The entity owns more than 6 thousand km. of power transmission lines and 57 substations with a total capacity of 1974.5 MVA. The share of MDPGC JSC in Mangistau region’s electricity transmission and distribution market, except for Aktau city, is 100%. The main consumers are oil and gas enterprises.
Detailed information is available at https://www.samruk-energy.kz
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