Samruk-Kazyna selling Qazaq Air carrier to Vietnam's Sovico Group

ASTANA. May 23 (Interfax) - Kazakhstan's Samruk-Kazyna National Wealth Fund is selling its subsidiary airline, Qazaq Air, to Vietnam's Sovico Group, and the transaction should close in the near future, the fund said.

"JSC Samruk-Kazyna has announced the transaction for the sale and purchase of up to 100% of the shares in Qazaq Air to Vietnam's Aviation Holdings Company, part of the Sovico Group of companies. Signing the sale and purchase agreement and closing the transaction is expected in the near future," Samruk-Kazyna said.

Samruk-Kazyna Executive Board Chairman Nurlan Zhakupov said that the parties have signed an agreement on principles.