Chinese CEFC Energy to buy 51% of Kazakhstan's state oil companyStaff writer ▼ | December 16, 2015
Chinese company CEFC Energy will take control of a unit of Kazakhstan's state oil and gas company which mainly owns assets in Europe.
Energy KMG International will have a new owner
CEFC China Energy Company will acquire 51 percent of KMG International (KMGI), a fully-owned unit of Kazakh state oil and gas firm KazMunayGaz KMGZ.KZ. One of the sources valued the deal at $500 million to $1 billion. ■