EBRD may purchase 15% of Kazkommertsbank's shares the next week

/REUTERS, Almaty, Oljas Auezov, May 8, 03/ - European bank of reconstruction and development (EBRD) may buy 15% of shares of the largest in Kazakhstan Kazkommertsbank during the week, a representative of EBRD said. "I think, the deal (on shares purchase) will be closed the next week", - EBRD's director on Central Asian countries Michael Davy said to journalists on Thursday. In the end of March Kazkommertsbank's shareholders confirmed deal on selling 15% of the bank's common shares to EBRD. Cost of the block may equal to $30- 35 m. EBRD's Board of directors approved the deal even earlier - in the beginning of March. In 2002 Kazkommertsbank, whose assets by the beginning of 2003 equaled to $1.76 bn, received profit in the amount of $52 m. Main shareholders of the bank are its top-managers. [2003-05-08]