Investment fund of Kazakhstan has sold the «West-Agro» grain receiving center

«Investment Fund of Kazakhstan» JSC (hereinafter – Fund, IFK) has carried out a transaction of purchase and sale of the property complex of the «West-Agro» grain receiving center.

Based on the results of auctions for an increase in prices, IFK sold the property complex of a grain receiving center located in the North-Kazakhstan region, district after named Gabit Musrepov, v. Novoishim. The sale price of the property was 598,339,343 tenge, at the starting cost 569 508 000 tenge. The auctions were held on the portal of «Information and Registration Center» JSC (gosreestr.kz). The auctions winner was «KAZMEAL» LLP.

This grain receiving center will become a part of a vertically integrated agro-industrial complex for the production and processing of grain crops in the Akmola and North Kazakhstan regions. As a site for the production of mixed fodders, it will serve the development of livestock in the region as a whole.

Grain receiving center «West-Agro» was one of the assets of the group of companies «Bogvi» LLP, transferred to the IFK balance in 2013. From this period, the IFK carried out measures for the return of state funds. At present, after carrying out all judicial actions for recovery, the Fund realizes the property received after the adjudication of the court decisions, and for the improvement of enterprises – it attracts investors.

So, for one of the assets of «Bogvi» LLP – a meat-packing plant in the Akmola region, the IFK attracted a domestic investor in the person of «Kazbeef Ltd» LLP, which taking enterprise for rent, launched production, set up production of finished products and recently bought a meat-packing plant. We also plan to sell the remaining assets in the near future to domestic investors for their subsequent launch», – noted Yermek Sakishev, Chairman of the Board of IFK.

One of the main tasks of the IFK is the recovery of distressed assets with subsequent sale in order to return state funds invested earlier in production facilities.

Currently “Investment Fund of Kazakhstan” JSC is working to transfer stressful assets to a competitive environment with a view to their further start.

«Investment Fund of Kazakhstan» JSC is a national development institute and a managing company in the field of restructuring and managing distressed assets. The Fund is a subsidiary of «National Managing Holding «Baiterek» JSC.

Press Service

of Investment Fund of Kazakhstan

+7 (7172) 55-94-11 (112)