OREANDA-NEWS. September 26, 2012. “KazTransOil” JSC and “KazMunayGas - Service” LLP entered into the agreement on sale and purchase of 100% of shares of “KazTransOil - Service” JSC. JSC "KazTransOil - Service" 100% of shares were sold for KZTg 11,647,889,000. The transaction was completed on September 21, 2012.

"KazTransOil" owned 100% stake of "KazTransOil - Service" noncommercial JSC, main activities of which are the provision of medical services, education and skills development services, physical culture and sports services, healthcare and resorts services, transportation and office services, tourist industry.

Taking into account the fact that "KazTransOil - Service" JSC is a non-core business for "KazTransOil", the Management Board of JSC NC "KazMunaiGas", which is the sole shareholder of JSC "KazTransOil", approved the plan of the restructuring of non-core assets "KazTransOil".

In this context, "KazTransOil" has decided to conclude with "KazMunaiGas - Service" transaction in which there is interest - sale of shares of "KazTransOil - Service."

Alienation of 100 % stock of shares of “KazTransOil - Service” JSC shall enable improvement of economic performance of “KazTransOil” JSC, forming of optimal assets structure due to divestment of non-core assets.

“KazTransOil” JSC – subsidiary of “KazMunayGas” NC JSC, the largest oil transporting company of the Republic of Kazakhstan, owning diversified network of main oil pipelines and waterlines with overall extension 8 thousand km. “KazTransOil” JSC transports for export and internal market about 59% of oil produced on the country.

“KazMunayGas - Service” LLP specializes in provision of services, including: comprehensive maintenance of administrative buildings, rendering of transport-forwarding services to legal and physical entities, rendering of services on leisure organization, physical-recreation activities and sport services. The participants of “KazMunayGas - Service” LLP are “KazMynayGas” JSC NC (93.12% share) and “KazMunayGas – EP” JSC (6.88% share).