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Management Side
Kazakhstan Kagazy Acquires Astana Contract
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Almaty, Kazakhstan – 19 February 2009 – Kazakhstan Kagazy plc (LSE: KAG), one of Kazakhstan’s leading industrial groups, today announced the acquisition of the remaining 10% stake in Astana Contract JSC, the largest logistics and warehouse operator in Central Asia, following the approval of the transaction by the State Development Bank of Kazakhstan. The total consideration paid was USD 6.4 million, of which USD 0.6 million was paid upfront and payment of USD 5.8 million is deferred to 11 April 2010.

In April 2008, Kagazy acquired a 90% stake in Astana Contract for a total consideration of USD 57.6 million. Astana Contract owns a full service container terminal, which is located 1.8 km from Almaty-1 railway station and near Almaty International Airport, with a processing capacity of 60,000 containers per annum and two class A storage facilities with 50,000 square meters of total space. In addition, Astana Contract owns approximately 60 hectares of land in Astana and Aktubinsk, conveniently located near roads and necessary infrastructure for construction of logistics facilities.

Kazakhstan Kagazy plc runs Central Asia’s largest producer of paper, corrugated board, and packaging products. It also operates one of the leading developers of commercial warehousing and industrial infrastructure facilities in Kazakhstan through PEAK LLP, which owns approximately 711 hectares of prime land, strategically located in newly created industrial zones in Almaty. The Group’s assets totalled approximately USD 800.4 million as at September 30, 2008 and consolidated revenues amounted to approximately USD 59.8 million for the first nine months of 2008. Kazakhstan Kagazy plc’s securities are listed under the symbol “KAG” on the London Stock Exchange.

 


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