KazTransGas Tbilisi sells for $40 million, reports Kazakh media

KazTransGas Tbilisi, which is the affiliate of Kazakh gas company KazTransGas, has been sold for $40 million, reports Kazakh news agency abctv.kz.

Abctv.kz reports that by selling the Georgian company, the Kazakh side has absorbed significant financial damage, as its initial investment was $160 million. 

The new owner of the Tbilisi gas distribution company is Waltbay LTD, which belongs to the Georgian investment group CBS.

Earlier, Forbes.kz wrote that Georgian Industrial Group intended to purchase KazTransGas Tbilisi.