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NAC Kazatomprom

Company

JSC NAC Kazatomprom – the national operator of Kazakhstan on export of uranium and its connections, rare metals, nuclear fuel for nuclear energy stations, the special equipment, technologies and materials of dual purpose.

Owners:
Samruk-Kazyna

Content


JSC NAC Kazatomprom is the world leader in extraction of natural uranium and the national operator in Kazakhstan on import and export of uranium, rare metals and nuclear fuel for nuclear power stations. JSC NWF Samruk-Kazyna is the only shareholder of JSC NAC Kazatomprom.

Assets

For the beginning of 2018 Kazatomprom group 49 enterprises in which about 26 thousand people work enter. Assets include all complexes of the enterprises participating in a production chain of end products: geological exploration, extraction of uranium; production of a nuclear fuel cycle; reactor building, nuclear power stations; production of structural materials; power; science; social security and training.

History

2017: Sale of Toshiba of 10% of stocks of Westinghouse

On December 25, 2017 it was announced that the Toshiba corporation redeemed from the national atomic company (NAC) of Kazakhstan Kazatomprom of 10% of stocks of the subsidiary company Westinghouse Electric according to the term of the contract about the put option, the press service of Kazatomprom reported.

Kazatomprom acquired shares of Westinghouse in 2007 at Toshiba corporation for $540 million. According to terms of the contract about the put option, Kazatomprom had the right to sell the shares back of Toshiba corporation at the fixed cost of $522 million.

"Today Kazatomprom received payment for stocks of Westinghouse in the amount of 522 million dollars by earlier exercised right to the put option", the statement says.

In the press release it is emphasized that taking into account the dividends received for the period holding of shares in the amount of 103 million dollars, Kazatomprom performed return of invested funds in the total amount of 625 million dollars that exceeded the initial stock investment of Westinghouse for 85 million dollars.

In March, 2017 the American company Westinghouse (subsidiary company of the Japanese corporation Toshiba) filed a lawsuit the petition for the beginning of insolvency proceeding, according to Article 11 of the Code of the USA about bankruptcy[1].

See Also

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