ASTANA, Kazakhstan, February 15. Qatari Lesha Bank LLC has entered into a preliminary, initial term sheet with Kazakhstan's Baiterek Holding JSC dated February 14, 2024, Trend reports.
According to the Qatar Stock Exchange, the agreement involves the potential acquisition by Lesha Bank of the entire share capital of one of the banks in Kazakhstan. There is no mention of which bank we are talking about.
It was noted that the transaction is subject to the successful negotiation by the parties of the terms and conditions of the definitive agreement to be entered into between the parties in connection with the acquisition.
Meanwhile, as previously known, one of the largest sovereign funds in the world, the Qatar Investment Authority, plans to enter the financial market of Kazakhstan. In addition to this, the fund is considering developing a project for deep processing agricultural products in Kazakhstan.
Furthermore, trade turnover between Kazakhstan and Qatar more than doubled and amounted to 9.6 million from January through November 2023 (from January through November 2022 - $3.96 million).
Kazakhstan's exports to Qatar for the above period amounted to $5.36 million, and imports - $4.3 million.