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Created on Thursday, 19 February 2009 09:43
Almaty, Kazakhstan – February 19, 2009 – Kazakhstan Kagazy plc (the “Company” or “Kagazy”) (LSE: KAG), one of Kazakhstan’s leading industrial groups, today announced the acquisition of the remaining 10% stake in Astana Contract JSC, the largest logistics and warehouse operator in Central Asia, following the approval of the transaction by the State Development Bank of Kazakhstan. The total consideration paid was US$ 6.4 million. The payment is effected in two tranches with US$ 0.6 million paid upfront and US$ 5.8 million being deferred to April 11, 2010.
In April 2008, Kagazy acquired a 90% stake in Astana Contract for a total consideration of US$ 57.6 million. Astana Contract owns a full service container terminal which is located 1.8 kilometres from Almaty-1 railway station and near Almaty International Airport, with a processing capacity of 60,000 containers per annum and two class A storage facilities with 50,000 sq.m. of total space. In addition, Astana Contract owns approximately 60 hectares of land in Astana and Aktubinsk, conveniently located near roads and necessary infrastructure for construction of logistics facilities.
For further information, please visit www.kazakhstankagazy.com or contact:
Kazakhstan Kagazy
Yuriy Bogday
Chief Executive Officer
Tel: +7 727 244 8787
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Kazakhstan Kagazy
Alessandro Manghi
Chairman
Tel: +7 727 244 8787
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Shared Value Limited
Larisa Kogut-Millings
Investor Relations
Tel. +44 20 7321 5010
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Kazakhstan Kagazy plc runs Central Asia’s largest producer of paper, corrugated board and packaging products. It also operates one of the leading developers of commercial warehousing and industrial infrastructure facilities in Kazakhstan through PEAK LLP, which owns approximately 711 hectares of prime land, strategically located in newly created industrial zones in Almaty. The Group’s assets totalled approximately US$ 800.4 million as at September 30, 2008 and consolidated revenues amounted to approximately US$ 59.8 million for the first nine months of 2008. Kazakhstan Kagazy plc’s securities are listed under the symbol “KAG” on the London Stock Exchange.
This interim statement contains certain forward-looking statements with respect to the financial condition, results, operations and businesses of Kazakhstan Kagazy plc. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this interim statement should be construed as a profit forecast.
