Kazakhmys Considers $1.6B Power Station Stake Sale

Law360, New York (February 7, 2013, 12:43 PM EST) -- U.K.-registered copper miner Kazakhmys PLC confirmed Thursday that it is in talks to sell its 50 percent stake in a 4,000-megawatt Kazakhstan power station in a deal that reportedly could bring in as much as $1.6 billion.

The company did not name interested parties or a potential purchase price in its brief statement, but analysts have pinpointed the transaction’s value. For its part, Kazakhmys cautioned that the early-stage negotiations did not guarantee a sale.

“Kazakhmys has entered into discussions regarding the holding, but these are at...
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