Last checked at 18 Nov 2013 07:07
for immediate release
Press release
On completion of negotiations with respect to potential acquisition of JSC "BTA Bank"
18 November 2013
JSC "Halyk Bank" ("Halyk Bank") announces completion of due diligence of JSC "BTA Bank" ("BTA Bank"), carried out in accordance with the Government Resolution #206 dated March 4, 2013 "On certain matters of joint stock company "Sovereign wealth fund "Samruk-Kazyna". Following completion of the due diligence, Halyk Bank provided to JSC "Samruk-Kazyna" ("Samruk-Kazyna") certain indicative, non-binding terms of the potential acquisition of interest in BTA Bank, which were not accepted by Samruk-Kazyna.
Therefore, negotiations of the potential acquisition of interest in BTA Bank by Halyk Bank have been discontinued by mutual consent of the parties, and Halyk Bank is no longer considering this transaction.
Halyk Bank will continue deploying its long-term development strategy aimed at further ascertaining its role as the leading commercial bank in Kazakhstan.
Press-service
JSC "Halyk Bank"
+7 727 2 590 816, www.halykbank.kz