ArcelorMittal transferred 100% of shares to Kazakhstan – Sharlapayev

Astana. December 11. KazTAG - ArcelorMittal Corporation transferred 100% of the shares of the pipe plant in Aktau and ArcelorMittal Temirtau JSC to the state company of Kazakhstan on December 7, said Kanat Sharlapayev ,Minister of Industry and Construction.
“ArcelorMittal has completed the transfer of shares since yesterday. 100% of the shares of the pipe plant in Aktau and 100% of the shares of ArcelorMittal Temirtau JSC were first transferred to a state company, this is Qazaqstan Investment Corporation, and then they will be transferred to the Allur Group and Andrey Sergeev Lavrentiev. They will take possession literally in the next day or two,” Sharlapayev said at a government.
According to the minister, Lavrentyev will be the “sole owner of the enterprise.”
“We wanted an investor whose center of decision-making and vital interests would be located entirely in Kazakhstan. From this point, we believe that the choice (of the investor - KazTAG) is correct. Despite the interest of other investors, we will always prioritize investors for whom this is a key asset,” added Sharlapayev.

Photo source: picture from an open source