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Sovereign Wealth Funds Briefing - Categorized | Financials

Kazakh tycoon eyes purchase of state-run Alliance, Temirbank

Posted on 11 October 2013

Kazakh billionaire Bolat Utemuratov has reached a preliminary non-binding agreement with Kazakhstan’s sovereign wealth fund Samruk-Kazyna on the purchase of two mid-sized banks which it controls, the two sides said on Thursday.
Kazakhstan’s government bailed out and acquired controlling stakes in Alliance Bank and Temirbank during the global financial crisis. Samruk-Kazyna owns 67 percent of Alliance Bank and 79.9 percent of smaller Temirbank………………………………………..Full Article: Source


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