Restructuring and privatization of Samruk-Kazyna companies to reduce its subsidiaries by 37%

Nurlan Rakhmetov, CFO of Samruk-Kazyna FundThe privatization and restructuring of the companies of the Samruk-Kazyna NC JSC will reduce the national company's subsidiaries by 37%, said chief financial officer of the Samruk-Kazyna Nurlan Rakhmetov during the Tuesday media briefing of the Central Communications Service.

The privatization and reduction will include 223 companies or 37%, he said. Out of 599 companies of the Fund, 122 companies will be transferred to the competitive environment, 16 companies of which will be non-core assets and 106 companies - core assets, Rakhmetov noted.

In addition, he said, 50 companies of the Fund will be sold together with the second tier banks, 48 companies will be dissolved, 20 companies will undergo reorganization, five companies will be transferred to state agencies.

Out of 106 core assets that are included in the list of the Government 64 will be sold in 2014, including two companies through the stock market.