Qatar’s Lesha Bank interested in acquiring former subsidiary of Sberbank in Kazakhstan

By bne IntelliNews February 16, 2024

The Qatar Stock Exchange said in a statement that Qatar’s Lesha Bank has initiated discussions with the Kazakh national management holding Baiterek regarding the potential acquisition of the entire share capital of a bank in Kazakhstan.

This recent development follows a prior announcement by Baiterek on 19 April 2023, indicating ongoing negotiations with potential investors for the sale of its subsidiary, Bereke Bank. At that time, however, no agreements had been finalised regarding the sale of Bereke Bank. Bereke Bank is the former Kazakh subsidiary of the Russian Sberbank. 

Earlier, on March 29, 2023, Madina Abylkassymova, chairman of the Agency for Regulation and Development of the Financial Market, revealed Baiterek's plans to attract investors interested in acquiring shares of its subsidiary. Notably, investors from the UAE, Qatar and Georgia, as well as the European Bank for Reconstruction and Development (EBRD), had expressed interest in acquiring shares of Bereke Bank.

 
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