Astana, Kazakhstan, Nov. 20
By Daniar Mukhtarov - Trend:
The Samruk-Kazyna National Welfare Fund considered the indicative parameters for the deal on the purchase of the bank BTA's shares, the fund's press service said on Nov. 20.
Samruk-Kazyna fund received these indicative parameters from the JSC Halyk Bank of Kazakhstan.
The terms proposed by the Halyk Bank do not fully meet the challenges facing Samruk-Kazyna. As a result, negotiations with the Halyk Bank on the sale of BTA shares were discontinued.
Given that the deal with the Halyk Bank on the sale of BTA Bank shares will not take place, the Samruk-Kazyna fund does not plan to purchase stakes in pension funds, including the shares of JSC Accumulative Pension Fund, belonging to the Halyk Bank.
At the same time, Samruk-Kazyna continues to look for strategic investors for the sale of its stake package of the BTA Bank. Currently due diligence procedures are being conducted at the BTA Bank by the potential customers.
Regarding to the bank's financial condition, it is reported that according to the International Financial Reporting Standards, the BTA Bank's consolidated net worth in the nine months of 2013 amounted to 296 billion tenges and net profit amounted to 24 billion tenges over a period from early 2013.