Kazakhstan's sovereign wealth fund has offered Royal Dutch Shell (RDS) an opportunity buy a significant minority stake in national oil company KazMunayGaz ( KMG ) in order for its planned flotation to be more appealing to foreign investors, according to a report from Reuters that cited two sources familiar with the talks.
A source said Shell has been offered up to 20% stake in KMG, which is 90% owned by Samruk-Kazyna, the Kazakh sovereign fund, and 10% belongs to Kazakhstan's central bank.
"The talks are underway," the source was cited as saying in the news report.
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