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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Halyk Bank may give up on BTA deal

Posted on 24 June 2013

The deal to purchase BTA by Halyk Bank may take longer than planned. One shouldn’t rule out the possibility of Halyk Bank giving up on the idea of purchasing BTA in case the country’s Government [that owns BTA through Samruk Kazyna Sovereign Wealth Fund] doesn’t offer concessions in terms of price, Tengrinews.kz reports, citing Artyom Ustimenko, analyst with the Agency for ROI Studies as saying.
Earlier tengrinews.kz reported, citing Halyk Bank Chairman of the Board Alexander Pavlov, that purchase of BTA by Halyk Bank and sales of Halyk Bank’s pension fund [to the Government] should be separate deals. Both deals should be closed without any pressure, at a fair price. In any case, these should be monetary deals, rather than a barter deal”………………………………………..Full Article: Source


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