Mon, Apr 21, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Samruk-Kazyna to shed bank stakes

Posted on 14 October 2013

A tentative agreement has been reached between Kazakhstan sovereign wealth fund Samruk-Kazyna and billionaire mining titan Bulat Utemuratov for the sale of the fund’s stake in Temirbank as well as some of its stake in Alliance Bank JSC, according to a statement. The public institutional investor will retain a majority stake in Alliance Bank.
The wealth fund had purchased controlling stakes in the banks to assist in their “anti-crises” efforts. However, directives from the Kazakh President Nursultan Nazarbayev to sell the stakes were issued in February. According to Deputy Chairman of the Board of Samruk-Kazyna Helena Bakhmutova, the selloff is appropriate and well timed………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 13908 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930