Less "subsidiaries" - more uranium
Kazatomprom put for sale 3 subsidiaries
JSC "NAC "Kazatomprom" announces an electronic auction for the sale of shares in the authorized capital of LLP "Kazatomprom-Sorbent" 51%, "Kazperoksid" 50% and "Recreation Resort Ulba" 100%.
The sale of subsidiaries and affiliates is held within the framework of the Program of business transformation, in order to increase the company's value through its restructuring and removal of non-core assets.
The sale announcement is published on the web portal of the Registry of the State Property www.gosreestr.kz. Bidding will take place in accordance with the uniform rules for the sale and restructuring of assets of joint-stock company "National Welfare Fund "Samruk-Kazyna" and organizations, more than fifty percent of voting shares (participation) of which directly or indirectly belong to JSC "Samruk-Kazyna" on the right of ownership, approved the decision of the Board of Directors of "Samruk-Kazyna" and the regulations for conduction of an electronic auction for the sale of the property on the web portal of the state property registry.
JSC "NAC" Kazatomprom" for few years has been working on optimization of the corporate structure of the company and removal of non-core assets. It is worth noting that in the period from 2013 to 2016 the National Atomic Company reduced the number of subsidiaries to 29 units.
In general, as a result of implementation of the "Action Plan for the restructuring of the assets of JSC" NAC "Kazatomprom" in 2015-2017, the company plans to reduce the number of subsidiaries and affiliates from 83 to 40. These measures will help to focus on the main uranium mining activities of Kazatomprom and the development of links of the nuclear fuel cycle.
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