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Kazakhmys able to block ENRC delisting with 26% stake - not our usual focus but interesting scenario

24/04/2013 · Kaz Minerals (KAZ) 

There was an interesting assessment from UBS research on the situation with ENRC.

UBS is of the view that ENRC the consortium, if formed, would control 56% of ENRC shares but requires more than 75% to delist.
ENRC therefore needs support from Kaz’s 26% holding.

UBS highlights a potential risk that the consortium makes an offer only for Kaz’s stake (after which it can delist ENRC), but believe this is unlikely.

Should a bid emerge UBS believes a realistic offer that might be accepted by…

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Kazakhmys able to block ENRC delisting with 26% stake - not our usual focus but interesting scenario

24/04/2013 · Company Insights
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