BAKU, Azerbaijan, Dec.3
By Nargiz Sadikhova - Trend:
VTB international financial group granted a funding loan worth 470 million euros to the group of companies of gold-mining sector of Kazakhstan, Trend reports with reference to the press office of VTB published by Kazakhstan Stock Exchange (KASE).
According to the information, the funding will be intended to purchase by AK Altynalmas JSC of controlling interest in KAZAKHALTYN JSC, realization of Aksu project of capacity of five million tons of ore a year and optimization of debt portfolio of the company.
In addition, VTB Capital acted as a financial consultant of AK Altynalmas JSC in purchase of controlling share in KAZAKHALTYN JSC.
As noted by Aidar Kaliyev, operation leader in Central Asia, senior vice-president of VTB, gold-mining sector of Kazakhstan has a huge potential for development.
“AK Altynalmas JSC is one of the leading companies on this market. VTB Group has a solid experience in structuring of package deals using complex financial tools. This agreement is a successful example of well-coordinated work of two professional teams. I am confident that our joint efforts will result in successful development of the company AK Altynalmas JSC,” he said.
In turn, according to Vladimir Dzhumanbayev, chairman of the board of directors of AK Altynalmas JSC, development strategy of gold-mining business provides a strong growth in the nearest time through the development of new projects, as well as extension of the assets base through the purchase and organic growth.
“These plans require diversification of funding sources; starting cooperation with such a major player of the capital market as VTB, makes us sure even more that goals, stipulated by the business development strategy, are achievable,” he said.
VTB Group is an international financial group that includes more than 20 credit and financial companies, working in all core segments of the financial market in more than twenty countries. Subsidiary JSC VTB Bank (Kazakhstan) has been working on Kazakh market for 10 years, providing a full range of banking services both to the natural and legal persons.
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