BMB Munai Unloads Operating Subsidiary Emir Oil

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
170MM
Description

Bought subsidiary with operations in Kazahkstan in Emir Field, which includes 3 wells in field.

China-based MIE Holdings Corp. (HKEx: 1555) has acquired Emir Oil LLP from parent company BMB Munai Inc., Almaty, Kazakhstan, (NYSE Amex: KAZ) for $170 million.

Emi Oil has operations in Kazahkstan in the Emir Field, which includes three wells in the field.

UBS Investment Bank was financial advisor to BMM Munai.