Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Alliance Bank, BTA, Temirbank Stake Sales Open to ‘Any Investor’

Don't Miss Out —
Follow us on:

Feb. 7 (Bloomberg) -- The sale of stakes in state-run Kazakh lenders BTA Bank, Alliance Bank and Temirbank will be open to “any investor,” according to the national wealth fund’s deputy chief executive officer.

Local investors and banks will also be able to participate in the sale, Yelena Bakhmutova told reporters in Astana today. The wealth fund, Samruk-Kazyna, has been weighing a merger of Temirbank and Alliance Bank and will seek a buyer for both, she said.

President Nursultan Nazarbayev ordered the sale of the state’s stakes in the three lenders this year on Feb. 4. The government used Samruk-Kazyna in 2009 to take over and bail out the banks, which restructured about $20 billion in debt after defaulting that year. BTA restructured its debt in December for the second time since 2010.

Samruk-Kazyna propped up lenders rocked by a credit squeeze in 2009 using money out of $10 billion tapped from the National Oil Fund. BTA, Alliance and Temirbank restructured about $20 billion in debt after defaulting that year. BTA restructured its debt in December for the second time since 2010, the lender said that month.

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.