Alliance Bank (Kazakhstan) signed the agreement with National Welfare fund Samruk-Kazyna
15.07.09 17:39
/KASE, July 15, 09/ - Alliance Bank (Almaty), the listed company of Kazakhstan
Stock Exchange (KASE), provided to KASE the following press release:
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Alliance Bank (hereinafter - the Bank) informed on signing of the agreement
between the Bank and National Welfare Fund Samruk-Kazyna.
According to the document Samruk-Kazyna intends to acquire the control stock of
the Bank and finalize the Bank capitalization in the size of KZT129 bn. as
previously informed the term of the Fund entry to Alliance Bank capital was
achieved through agreement with the Creditors' Steering Committee on the Bank
indebtedness restructuring.
As a result of finalized capitalization and restructuring by Samruk-Kazyna, the
Bank will restore its capital up to the adequate level.
In addition, in compliance with the agreement with the Agency of the Republic of
Kazakhstan on Regulation and Supervision of Financial Market and Financial
Organizations (AFS) of April 28, 2009, the Bank represented to AFS the
restructuring and recapitalization plan.
It is expected that restructuring and Samruk-Kazyna entry to the Bank capital
will be completed at the beginning of November of 2009.
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[2009-07-15]