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Sovereign Wealth Funds Briefing - Categorized | Investment

Kazkom Completes BTA Purchase

Posted on 11 July 2014

Kazkommertsbank (KKB), one of the largest banks in Central Asia, has announced it has completed the acquisition of BTA Bank, the Times of Central Asia reports. On June 30, 2014, as per their earlier agreements, Kazkommertsbank and Kenes Rakishev, a 34-year-old businessman and venture investor, each bought a 46.5% share in BTA Bank from Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund, KKB said.
Simultaneously, Samruk-Kazyna handed over its remaining 4.26% share in BTA Bank to KKB, according to the Trust Agreement. This provided KKB with over 50% of voting rights and operational control of BTA………………………………………..Full Article: Source


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