Qatari Lesha Bank has tentatively agreed to purchase a bank in Kazakhstan
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Qatari Lesha Bank entered into a preliminary agreement with the Kazakh state holding Baiterek on the acquisition of 100% of the bank’s shares in Kazakhstan, reported Qatar Stock Exchange. The name of the bank is not given in the trading platform message.
The preliminary agreement was concluded on February 14. Now the Qatari and Kazakh parties are agreeing on the final terms of the transaction, the Qatar Stock Exchange said in a statement.
The portfolio of the Baiterek holding includes Bereke Bank (a subsidiary of the Russian Sberbank, sold in 2022 after the introduction of sanctions), Otbasy Bank and the Development Bank of Kazakhstan. On negotiations between Baiterek and an investor from Qatar at the end of October 2023 told Head of the Agency for Regulation and Development of the Financial Market of Kazakhstan Madina Abylkasymova. According to her, the acquisition of Bereke Bank by a Qatari investor was discussed.
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