REUTERS. Sberbank of Russia intends to acquire up to 100% of the shares in BTA Bank, No. 1 lender in Kazakhstan, a source close to acquisition talks told the news agency. According to the same source, a delegation from Sberbank is presently on a visit in the republic. “It (Sberbank) would like to grab the entire pie, if things unfold under this scenario“— the source said noting the structure of the transaction has yet to be specified, but the bank is to be sold as a single lot.
A spokesman from Sberbank’s Kazakh subsidiary said a proposal from Kazakhstan’s national fund Samruk-Kazyna really reached Sberbank, but negotiations are held at the level of Sberbank in Moscow.
On Monday Kazakh authorities represented by national welfare fund Samruk Kazyna announced the purchase of a 78.14% stake in BTA Bank. Kazakh Prime Minister Karim Masimov is to launch talks with potential strategic investors over the assignment of a portion in this block of shares. “Preliminary negotiations with the representatives from Sberbank of Russia are under way” — he pointed out.
