Kazakh Company Becomes Owner of Tbilgazi

The Kazakh state-run KazTransGaz company won a tender on privatization of the Tbilisi gas distribution company Tbilgazi on May 12. KazTransGaz was the only company bidding for Tbilgazi. However, the amount of the deal remains unknown.

A tender on privatization of Tbilgazi with initial bid price at USD 12,5 million was announced in April.

Last December the Georgian economy minister and a top executive of the Kazakh state-run KazTransGaz company signed a memorandum in Tbilisi stating that the Kazakh company would buy 100% of shares of TbilGazi. However, the amount of the deal was not indicated in the memorandum.