Kazakhstan - 02

Kazakhstan: KMG’s Partial Sale of Kashagan Stake Underscores Astana’s Long-Term Optimism

Last week KMG announced its plans to sell half of its 16.81% stake in the Kashagan project to the SK Fund and use the proceeds to reduce its debt. The company plans to gain $4.7bn through the sale and will be able to write off $2.2bn in its corporate debt, as the current debt relating to the project will no longer be included in this calculation. As Horizon has previously covered…


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