Xinjiang Guanghui gets Kazakhstan’s Approval to buy Rifkamp

    Xinjiang Guanghui Industry Co. has obtained approval from Kazakhstan's Energy and Mineral Resources Ministry to buy Rifkamp BV, the Chinese company said, Bloomberg reports.
    The acquisition of Rifkamp will give Xinjiang Guanghui a 49 percent stake in Tarbagatay Munai Ltd., which has natural gas and crude oil assets in Kazakhstan, the Chinese company said in a statement filed on the Shanghai Stock Exchange yesterday.
    Xinjiang Guanghui agreed to buy Rifkamp from Caog Ltd. for $40.52 million, it said in April, according to CA-News.org.