14 April 2008
Reuters News
ALMATY, April 14 (Reuters) - Kazakh industrial group Kazakhstan Kagazy
said on Monday it would buy a 90 percent stake in rival logistics
company Astana Contract for $57.6 million, using money raised in last
year's IPO.
Kazakhstan Kagazy ,
which has interests in packaging, real estate and logistics, raised
$240 million by placing a minority stake on the London Stock Exchange
last July.
"Following this
acquisition Kazakhstan Kagazy will become the market leader in
warehouse and logistics infrastructure and the only Class A warehouse
operator in Central Asia," Kazakhstan Kagazy said in a statement.
The company said it
would pay for Astana Contract, whose key asset is a container terminal
near commercial hub Almaty, in several instalments. (Writing by Olzhas
Auyezov; Editing by Quentin Bryar)
