United Arab Emirates’ Alnair Capital holding has entered into binding agreements to acquire a further 17.12% in Kazkommertsbank in addition to its current 8.03% shareholding.
Kazkommertsbank (www.kkb.kz)
Kazkommertsbank is one of the largest private banks in CIS region with total assets of USD 24.9 billion according to the audited financial statement as of January 1, 2008. The Bank is the leading provider of financial services to Kazakstan economy. Under its new brand KAZKOM the Bank has more than 191 branches across the country as of the year end 2007.
Kazkommertsbank was the first bank in Kazakhstan to successfully close an IPO on the London Stock Exchange in November 2006 thereby having more than doubled its capital.
The largest shareholders in case of completion of a deal by Alnair Capital Holding will be the following:
32.12% – CAIC
25.15% – Alnair Capital
12.62% – N.S.Subkhanberdin
8.45% – EBRD
19.3% – Free float
2.17% – Other shareholders
JSC Alnair Capital Holding
Alnair Capital is a Kazakh joint stock company owned by the Alnair private equity group managed by Mrs. Aigul Nuriyeva with capital from Sheikh Tahnoon Bin Zayed Al Nahyan of Abu Dhabi.
Alnair Capital is being advised by Credit Suisse and Renaissance Capital.
24/06/2008
Central & Eastern Europe, Financial Services, Investment, Kazakhstan, Private Equity News