ERG owners consider splitting group into Kazakh, international units
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Owners of Eurasian Resources Group are considering splitting the mining group into Kazakh and international businesses, Bloomberg reported citing sources. The potential split could distribute ERG's assets between two main private shareholders, Shakhmarat Mutalip and Shukhrat Ibragimov. The group currently generates most of its revenue from iron ore production.
The Split Proposal
Eurasian Resources Group's owners are exploring a split of the mining group into two businesses: Kazakh and international, according to Bloomberg sources. The move would separate assets between Shakhmarat Mutalip and Shukhrat Ibragimov, the two main private shareholders. ERG generates the bulk of its revenue from iron ore production.
Shareholder Structure
ERG is a major diversified natural resources producer with operations in Kazakhstan and other countries. The group's ownership includes the two private shareholders alongside other investors. A split would allow each shareholder to focus on specific regional operations.
What's Next
The owners are expected to continue discussions in the coming months. It remains unclear whether a final agreement will be reached or how the assets would be valued.
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ERG owners consider splitting group into Kazakh, international units
