May 24 (Reuters) – Nature Energy Solutions, owned by
Kazakh entrepreneur Shakhmurat Mutalip, has acquired a 39.3%
stake in Kazakh mining giant Eurasian Resources Group (ERG) from
co-founder Patokh Chodiev and the heirs of late shareholder
Alexander Machkevitch, the company said on Friday.
* Nature Energy bought an 18.6% stake in ERG from Chodiev
and a 20.7% stake from the heirs of Machkevitch.
* All enterprises in ERG continue to operate as usual after
the shareholder changes, the company said.
* ERG declined to comment on the value of the deal.
* The Financial Times reported in March that Glencore
had proposed to support Mutalip’s $1.4 billion bid to
buy a 40% stake in ERG.
* ERG, a producer of ferroalloys, copper, cobalt, aluminum,
iron ore and thermal coal, is 40% owned by the government of
Kazakhstan, with 60% owned privately.
(Reporting by Angela Christy in Bengaluru
Editing by David Goodman
)
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