/KASE, June 15, 2017/ – Kazkommertsbank (Almaty), whose securities are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following
press release of June 15, 2017:
quote
SC Kazkommertsbank ("Kazkommertsbank") hereby announces the signing
today of the sale and purchase agreements ("SPA") by and between Mr.
K. Kh. Rakishev and JSC Halyk Bank ("Halyk Bank") and separately by and
between JSC "Sovereign Wealth Fund Samruk-Kazyna" ("Samruk-Kazyna")
and Halyk Bank pursuant to which Mr. Rakishev and Samruk-Kazyna are selling
to Halyk Bank their entire respective ownership interests in Kazkommertsbank
for the consideration of 1 Kazakhstani tenge each.
The signing of these agreements follows conclusion on June 2, 2017 of the
Framework Agreement between the Government of the Republic of Kazakhstan,
the National Bank of the Republic of Kazakhstan, JSC NWF Samruk-Kazyna, JSC
Problem Loans Fund, JSC BTA Bank, Halyk Bank, Kazkommertsbank and Mr. Rakishev.
The closing of the transaction is subject to certain conditions precedent,
including, inter alia:
- Acquisition by JSC Problem Loans Fund of certain assets and claims from
BTA Bank;
- Redemption of a loan owed by BTA Bank to Kazkommertsbank within 2.4
trillion tenge;
- Mr. Rakishev having acquired shares in Kazkommertsbank currently held by
Mr. Subkhanberdin and Central Asian Investment Company, with these equity
stakes further being sold to Halyk Bank;
- Receipt of customary regulatory approvals from the relevant regulatory bodies
in Kazakhstan and other applicable jurisdictions.
Upon closing, Halyk Bank will become the main shareholder holding 96.8% interest
in Kazkommertsbank.
The Closing of the transaction is currently expected to take place during 2017.
unquote
The press release is available on KASE website –
http://www.kase.kz/files/emitters/KKGB/kkgb_reliz_150617_eng_1.pdf
[2017-06-15]