| 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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