On February 14, the Qatar Stock Exchange announced that Lesha Bank LLC (Public) has entered into a preliminary, initial term sheet with the Kazakh national management holding Baiterek JSC, regarding the potential acquisition of the entire share capital of a bank in Kazakhstan, QazMonitor reports citing the Exchange’s press service.
This development follows an earlier announcement made by Baiterek on April 19, 2023, stating that the holding is in negotiations with potential investors for the sale of its subsidiary organization, Bereke Bank JSC. At the time, the holding has not entered into any agreements related to the sale of Bereke Bank.
Earlier, on March 29, 2023, Madina Abylkassymova, the Chairman of the Agency for Regulation and Development of Financial Market, disclosed that Baiterek would commence efforts to seek investors interested in purchasing shares of its subsidiary organization. At that time, investors from the United Arab Emirates, Qatar, and Georgia, along with the European Bank for Reconstruction and Development expressed interest in acquiring shares of Bereke Bank.
