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In a significant development within Kazakhstan's corporate landscape, businessman Shakhmuat Mutalip has reportedly acquired the stakes previously held by Alexander Mashkevich and Patokh Chodiev in the Eurasian Resources Group (ERG). This information comes from a source familiar with the matter.

ERG Ownership Shifts

The acquisition marks a notable change in the ownership structure of one of the country's major mining and metals conglomerates. ERG, a diversified natural resources group, has been a key player in the Kazakh economy for years.

Previous Business Dealings

This move follows earlier reports from Bloomberg, which indicated that Glencore Plc was in negotiations to sell its stake in Kazzinc Ltd. to Mutalip. While details of that potential transaction were not fully disclosed, it signals a period of increased activity and strategic shifts involving the businessman.

The editorial team at KazTAG attempted to seek comment from Integra Construction KZ regarding these developments, though no official statement has been released.