The national oil and gas company – KazMunayGas (KMG) published on the website of the Ministry of Finance of Republic of Kazakhstan the information regarding its intention to sell participation shares in Palplast Sibiu (98.8%), Rominserv Valves Iaifo Zalau (100%) and Global Security Sistem (51%). All three companies are part of KMG International (formerly Rompetrol Grup).
The divestment process is part of KMG long-term strategy that implies the consolidation and development of the core-business assets.
This measure is included in the privatization plan of the participation shares, owned by Kazakh state through its sovereign investment fund “Samruk Kazyna”, which aim is to strengthen economic principles by reducing state involvement in the economy, namely increasing the role of private sector in economic development.
The online auction for sale of participation shares will be held on the 9th of December, through the website of the Ministry of Finance of Republic of Kazakhstan –The Committee of State Property and Privatization.
More information and details regarding these three companies can be found here:
For additional information or clarifications, please, contact Daniel Anton (phone no. 021/206.75.92, email - Daniel.Anton@rompetrol.com)