National Bank of Kazakhstan to buy EBRDs stake in State Pension Fund.

By bne IntelliNews July 11, 2011
National Bank of Kazakhstan (NBK) plans to buy a 9.99% stake in the State Pension Fund from the European Bank for Reconstruction and Development (EBRD). The deal would bring NBKs stake in the bank to 100%, the banks chairman Grigory Marchenko has informed. Then, the NBK would sell 20-25% shares in the Fund during the planned peoples IPO. At the same time, the bank would also actively seek a strategic investor for its remaining stake. The State Pension Fund is the second largest pension fund in Kazakhstan with USD 2.7bn assets as of the end of Q1.

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