LONDON, July 8 (Reuters) - Kazakh miner Kazakhmys,the single largest shareholder in miner ENRC, said onFriday its independent shareholders would vote on whether toaccept a buyout bid for ENRC on August 2.
Kazakhmys in June gave its support to a $4.7 billiontake-private deal for ENRC from its the founders, but said itsbacking is ultimately subject to approval from its independentshareholders.
Support from Kazakhmys, with its long-problematic 26 percentstake in ENRC, is critical for the bidding consortium - ENRC'strio of founders and the Kazakh government who want to draw aline under a London adventure marred by corruption probes,governance concerns and boardroom rows.
Outlining the reasons for backing the bid, Kazakhmys said itwould end its association with troubled ENRC, as well asproviding it with $887 million in cash and 77 million sharesthat will boost its finances at a time when it is developingmines. The shares will be cancelled.