“Central – Asian Electric Power Corporation” JSC has consummated the transaction for acquisition of 48,41% of shares of “Akmola Electricity Distribution Company” JSC from minority shareholders.

“Central – Asian Electric Power Corporation” JSC (“CAEPCO” JSC) has acquired 48,41% of shares of “Akmola Electricity Distribution Company” JSC (“AEDC” JSC, Company), thus “CAEPCO” JSC completed consolidation of 100% shares of the Company. Previously, in July 2014 51,59% shares of the Company was contributed to the charter capital of “CAEPCO” JSC by its majority shareholder “Central – Asian power energy company” JSC.

The transaction for acquisition of “AEDC” JSC was approved by the Board of Directors of “CAEPCO” JSC, based on the Strategy of “CAEPCO” JSC for business expansion in territorial aspect. “Akmola Electricity Distribution Company” JSC will continue provision of services to its consumers at 14 districts of Akmola region and Astana city.

In accordance with the program for modernization of subsidiary organizations assets, implemented by the Holding Company, “CAEPCO” JSC intends to conduct renovation and refurbishment of “AEDC” JSC assets, aimed to satisfaction of demands of rapidly growing capital region and enhancement of energy supply reliability.

KZT 2,89 bln is the amount of approved investments of “AEDC” JSC for the reconstruction projects in 2014, and for the period till 2017 it is projected to invest KZT 7,67 bln. The investments are distributed among priority directions – reconstruction of electricity transmission lines and energy equipment, capital repairs and implementation of ASCAEE for consumers. The investment program funded by own funds, raised loan facilities of Asian Development Bank and commercial banks.

Reference information:

Joint – stock company “Akmola Electricity Distribution Company” (“AEDC” JSC) was established on 01.03.2001. The Company conducts its business in Akmola region. Services area amounts to 121 thousand km2.  “AEDC” JSC is connected to unique energy system of Kazakhstan through “KEGOC” JSC lines, allowing transmission of energy, generated in different regions of the Republic of Kazakhstan. Number of employees in “AEDC” JSC as of November 01, 2014 amounts to 2 169 people.

Joint – stock company “Central – Asian Electric Power Corporation” – vertically integrated energy company. Subsidiary organizations in the regions of Kazakhstan are “SEVKAZENERGO” JSC and “PAVLODARENERGO” JSC include all chains of energy supply: generation, transmission and sales. In Astana city, “CAEPCO” JSC controls sales structure – “ASTANAENERGOSBYT” LLP, in Akmola region – “AEDC” JSC.

Public Relations Department
“Central – Asian Electric Power Corporation” JSC
Tel.: +7 (727) 258 49 48 (ext.2042)
public@energy.kz