Kazakh Fund Drops $1.65B On Zinc Co. Stakes

Law360, New York (February 14, 2013, 3:46 PM EST) -- Kazakhstan's wealth fund Samruk-Kazyna JSC reportedly revealed Thursday that it had paid private equity group Verny Investments Holding LLP $1.65 billion for stakes in a local zinc producer, which were left on the table last year in a deal with Glencore International PLC.

The revelation was well under analyst predictions that had pegged the 29.8 percent stake value in Kazzinc Ltd. at about $2.2 billion last week, when the deal was first revealed, and the fund said it had borrowed to finance the deal, according to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.