Kazakh BTA Bank sells affiliated companies
Azerbaijan, Baku, Jan. 17 / Trend E. Kosolapova/
Large Kazakh BTA Bank is selling its affiliated companies.
Currently, BTA Bank holds talks with a potential buyer of its subsidiary insurance company London-Almaty, Novosti-Kazakhstan reported referring to Bank's Chairman of the Board Anvar Saidenov.
"Insurance Company London-Almaty is definitely on sale. We have a potential buyer. The only unresolved issue is its price," Saidenov told journalists.
Moreover, according to Saidenov, the Bank is considering possibility of selling the pension fund Ular-Umit and banks shares in the companies out of Kazakhstan.
"We are ready to consider all offers on purchase of our assets out of Kazakhstan," Saidenov said.
Earlier BTA Bank reported about plans to finalize a deal on selling its share in the Turkish Sekerbank to the Kazakh National Welfare Fund Samruk-Kazyna.
BTA Bank is one of the largest Kazakh banks. The bank has a debt worth $4.4 with repayment term of 20 years. Its main shareholder of the Bank is Samruk-Kazyna.
Kazakh National Welfare Fund Samruk-Kazyna is a joint stock company, which owns, wholly or in partially, many important companies in the country. The state is the only shareholder of the Fund. Samruk-Kazyna controls the assets worth $78 billion, or nearly 56 percent of Kazakh GDP.