VOL. XLIV

No 30

23-July-2001

CASPIAN

Kazakstans CAIH Drops BidTo Take Over Hurricane Hydrocarbons

Kazakstans Central Asian Industrial Holding (CAIH),a company registered in the Netherlands Antilles and an affiliate ofKazkommertsbank, has dropped its bid to take a majority shareholding inCanadas Hurricane Hydrocarbons. Last April CAIH made a hostile bid of C$189mn($121mn), or C$10.50 per share, in an attempt to raise its 30% stake in theToronto-listed firm to 53%. The management of Hurricane...