Joint Resources, owned by Timur Kulibayev, has sold its stake in KazAzot JSC.Forbes Kazakhstan“. As noted in the company, the auction took place on December 10. As a result, 85% of ordinary shares of KazAzot were acquired by Kazakhstan Petrochemicals LLP, and 5% remained with the former owner Bakharidin Ablazimov.
Kulibaev’s company and two individuals, Dinmukhamed Idrisov and Yerzhan Dostybaev, sold their shares. The composition of the board of directors of KazAzot has also changed.
The KazAzot company began as the Caspian Mining and Metallurgical Combine. Now it produces mineral fertilizers for agriculture, supplies ammonia and saltpeter for mining.
On January 17, Kulibayev, who is married to the middle daughter of former head of state Nursultan Nazarbayev, Dinara, announced that he was leaving the post of head of the Atameken national chamber of entrepreneurs. In his address, he summed up his eight-year work in office, in particular, said that during this time a “constructive dialogue between business and government” had been established, and a “favorable business climate” had been consistently formed.
Earlier, two other sons-in-law of Nazarbayev, the chairman of the board of KazTransOil JSC Dimash Dosanov, who is married to the youngest daughter of the ex-president Aliya, and the chairman of the board of QazaqGaz National Company JSC Kairat Sharipbayev, who is called the husband of the eldest daughter, Dariga, lost their posts.
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