JSC SAT&Company has completed the acquisition of 81.39% ShalkiyaZinc for $50 million

/IRBIS, January 19, 2011/ - JSC "SAT & Company" has completed a deal to buy 81.39% stake in iron and steel group ShalkiyaZinc totaling $ 50 million, reported Jan. 18 ShalkiyaZinc NV. The transaction was completed after January 17 the Government of the Republic of Kazakhstan waived its right of first refusal. JSC "SAT & Company" has acquired 24,715,769 ordinary shares ShalkiyaZinc at $ 2.023 per share. ShalkiyaZinc intends to use the proceeds from the transaction to pay off substantial debt (including loans BTA) as well as at the completion of its ongoing working capital and other needs. New Director ShalkiyaZinc, appointed at a shareholders meeting on Sept. 17, 2010, now took up office. ShalkiyaZinc Board now consists of the following persons: Marat Sarkytbaev, Daniyar Amanov, Oryngazy Zhaboldinov, Rolland Musina, Murat Perzadaev, and Aynur Bidaybekova. Houlihan Lokey (Europe) Limited acts as a financial advisor of ShalkiyaZinc. Norton Rose LLP acts as legal advisor ShalkiyaZinc against English and Dutch law, with the assistance of Macleod Dixon in regard to the law of the Republic of Kazakhstan. Renaissance Capital Limited acts as financial advisor for the SAT & Company. Maclay, Murray & Spens LLP acts as legal adviser to the SAT & Company in connection with English law, with the assistance of Houthoff Burma with regard to Dutch law. [2011-01-19]