Georgian Industrial Group to purchase KazTransGas Tbilisi

Georgian Industrial Group is purchasing KazTransGas Tbilisi, which is the affiliate of Kazakh gas company KazTransGas.

Georgian Industrial Group is the largest industrial holding in Georgia with a diversified business portfolio, including coal mining, energy generation.

The news was published today by Forbes.kz, while Georgian news agency Interpressnews reported that the press centre of Georgian Industrial Group confirmed this information to the news agency.

During the last period, the Georgian Industrial Group was negotiating with the Kazakh side, and specifically with the corporation Kazmunaygas, in order to redeem 100 percent of the corporation’s shares in KazTransGas Tbilisi’s authorised capital”, read the announcement of the Georgian Industrial Group, published by Interpressnews.

The group explained that once the deal is signed, official information about the process will be published, however the "principal agreement” has already been reached.

Forbes wrote that Georgian Industrial Group is purchasing KazTransGas Tbilisi for $40 million.