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.

Related Articles

Kazakhstan in talks with McDonald's.

Kazakhstan is in talks over McDonald's enter to the Kazakh market, President of the Eurasian Franchising Association, Beknur Kissikov has said. He added that the main reasons that McDonald's is ... more

Kazakhstan to establish institute for energy and energy effectiveness.

Kazakhstan will establish institute for energy and energy effectiveness, deputy PM and Minister of Industry and New technologies Aset Isekeshev has informed. The new entity should start operating ... more

Kazakhstan to diminish oil products imports from Russia.

Kazakhstan plans to diminish oil products imports from Russia, according to Kuandyk Kulmurzin Director of oil industry development department in Oil and Gas Ministry. He explained that the reason ... more