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Eurasian Resources Group (ERG) has officially confirmed previous reports regarding the sale of a portion of its shares to businessman Shakhmuat Mutalip. This development marks a notable shift in the company's ownership structure.

According to ERG, Nature energy solutions Ltd., a company associated with Shakhmuat Mutalip, acquired a 39.3% stake in ERG. This stake was purchased from Patokh Chodiev, who held 18.6%, and the heirs of Alexander Mashkevich, who owned 20.7%. The company stated that these changes are aimed at strengthening its business operations and enhancing management efficiency.

No Impact on Operations

ERG representatives emphasized that the company's operations remain unaffected by this ownership change. All ERG enterprises are functioning in their standard operational modes. The sale of shares will not influence the company's ongoing business activities, the execution of production programs, or its commitments to employees, partners, and the state.

It is worth noting that initial information about this transaction was first reported by the KazTAG agency at the beginning of March, approximately three months prior to this official confirmation.

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