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Kazakhstan businessman to buy $40 million worth oil company's shares

09 января 2013, 18:06
Kairat Satylganov. Photo courtesy of biografia.kz
Kairat Satylganov. Photo courtesy of biografia.kz
Kazakhstan entrepreneur Kairat Satylganov will purchase $40 million worth Roxi Petroleum PLC stock, the company’s official website writes.

First $10 million will be paid by January 31, 2013. The remaining funds will be paid later. The businessman will own the total of 355,165,716 new shares of the company (around 37.5 percent of Roxi’s common stock). Thus, the former chairman of Halyk Bank and ATF Bank will become a major investor of Roxi Petroleum and a member of the company’s Board, Kursiv writes.

“This investment will take care of the all the funding Roxi needs for the foreseeable future and allow its management team to focus on developing its principal assets, BNG in particular,” the company’s chairman Clive Carver said.

Roxi Petroleum PLC was established in 2006. The company is opearting at Kazakhstan’s oil fields (Pre-Caspian basin, Mangyshlak, Turgai).

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