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KazMunaiGas makes approach to buyout KazMunaiGas EP subsidiary

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Report summary

KazMunaiGas EP (KMG EP), the listed subsidiary of KazMunaiGas (NC KMG), Kazakhstan's state-owned oil company, has received a preliminary approach from NC KMG for the listed portion of its ordinary shares.  The potential buyout is at a very early stage, but the consolidation would mark another step towards a future IPO of NC KMG.  This remains targeted as the centrepiece of Kazakhstan's ongoing People's IPO privatisation programme.

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