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Kazyna Fund to support Petkim winners

The Kazyna Fund announced its support yesterday for the Kazakh investors participating in the TransCentralAsia Consortium that outbid its rivals last week in the privatization of state petrochemicals company Petkim. The fund plans to provide support in organizing the structuring and financing of the transaction for the acquisition of Petkim’s shares. It also intends to participate in organizing the financing of Petkim’s future expansion projects, including further investments in its core petrochemicals business, increasing its energy production capacity and constructing a refinery and port in Turkey. Members of the consortium believe Petkim has a strategic role in the regional economy and that both the company and the Turkish market have great prospects for growth. JSC Bank TuranAlem (BTA), Sekerbank’s partner, and Credit Suisse acted as financial advisers to the TransCentralAsia Petrochemical Holding consortium in connection with the acquisition. The Kazyna Fund was created in April 2006 to increase investments and facilitate innovations in the non-natural resource sectors of Kazakhstan’s economy in order to increase diversification and competitiveness in the economy, Kazinform cites Today's Zaman. 09.07.07


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