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Sovereign Wealth Funds Briefing - Categorized | Investment

Billionaire Utemuratov buys two Kazakhstan banks

Posted on 16 December 2013

Kazakh billionaire Bulat Utemuratov has finalized the deal to purchase Alliance Bank and TemirBank from Samruk-Kazyna Sovereign Wealth Fund, Tengrinews reports.
Earlier this year, President Nazarbayev instructed Samruk-Kazyna to sell its share in Alliance Bank and Temirbank. At about the same time Chairman of Alliance Bank Maksat Kabashev said that the cost of Alliance Bank and Temirbank could range from $500 million to $1 billion. However, the price paid by Utemuratov to purchase these banks has not been unveiled yet………………………………………..Full Article: Source


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