LONDON Dec 9 Copper miner Kazakhmys has
agreed to sell its stake in Kazakhstan's largest power station
to Kazakhstan sovereign wealth fund Samruk-Kazyna in a deal
worth $1.3 billion.
The London-listed company said on Monday it had agreed to
sell its remaining 50 percent interest in Ekibastuz GRES-1, the
largest power station in Kazakhstan, and 100 percent of the
issued share capital of Kazhydro to a Samruk-Kazyna subsidiary.
It said the deal's net proceeds of about $1.25 billion would
substantially strengthen the company's financial position during
the development phase of its major copper growth projects
Bozshakol and Aktogay.