Kazzinc, Verny to Buy Kazakh Gold Producer for 30 Billion Tenge

Verny Capital, a Kazakh investment management group part-owned by billionaire Bulat Utemuratov, and Kazzinc are spending about 30 billion tenge ($199 million) to buy a Kazakh gold producer.

Kazzinc acquired 89.5 percent of TOO Orion Minerals from Cammex, with Verny Capital obtaining the rest of the company, the Astana-based investment vehicle said in a statement distributed today in the Kazakh capital, Astana.