March 19, 2018 / 2:39 PM / a year ago

Kazakh KMG: deal to sell stake in Romanian unit to CEFC postponed until end-June

MOSCOW, March 19 (Reuters) - A deal to sell a 51 percent state in Kazakh state energy company KazMunaiGas’ Romanian unit to China’s CEFC has been postponed until the end of June, KazMunaiGas told Reuters. “The deal to sell a controlling stake in Kazmunaygaz International (KMGI) to CEFC is not definitively closed due to remaining obligations, which are planned to be completed by June 30 2018,” KazMunaiGas said in written comments.

“We understand that all the recent statements... in the press regarding CEFC do not affect the terms of the sale and the purchase agreement,” KazMunaiGas said. “Both parties are still fully committed to closing the deal in the near future.”

Reporting by Alla Afanasyeva Writing by Katya Golubkova Editing by Jack Stubbs

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