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Sovereign Wealth Funds Briefing - Categorized | Investment

Kazakhmys to sell power-producer stakes for $1.3 bln

Posted on 10 December 2013

Kazakhmys Plc (KAZ), Kazakhstan’s largest copper miner, agreed to sell two power producers to the nation’s sovereign wealth fund for $1.3 billion to protect loan accords.
The transaction will generate net cash proceeds of about $1.25 billion, bolstering Kazakhmys’s finances at it develops the Bozshakol and Aktogay copper mines, it said today in a statement. The sale removes any risk that the company may breach covenants on loans, it said………………………………………..Full Article: Source


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