Emerging Markets, Emerging Russia, Emerging Views
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By Marcus Williams
Cem Habib, a partner and head of the fund of hedge funds business at Cheyne Capital, has quit the firm to join an investment bank in Kazakhstan.
The Turkish born financier Habib will work in a private equity role with a Kazakh investment bank, according to a Reuters report.
Habib, whose missus had dalliances with [...]
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Antal Russia, the recruiter, is opening an office in Kazakhstan to cater for opportunities in the Central Asian country and its neighbours.
The group is returning to Almaty having closed its Kazakh office in 1999 after four years of operation.
Michael Germershausen, Antal Russia Managing Director, said: “This is the first step in our regional expansion strategy, [...]
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By Ivan Anzerzhanov
Britain’s Royal Bank of Scotland sold its Kazakhstan business to HSBC for $52 million (£35m) in its third emerging market disposal.
RBS Kazakhstan includes four branches, two support offices, 490 staff and personal customer loan and credit card portfolios. HSBC has been operating in Kazakhstan since 1998 and has 250 [...]
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By Ivan Anderzhanov
The European Bank for Reconstruction and Development and the World Bank’s International Finance Corporation are launching a €300m fund to help structure medium-size companies in eastern Europe and central Asia.
The EBRD said it will contribute €60m to the ADM CEECAT Recovery Fund, with the IFC adding €35m. They [...]
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By Andrei Skvarsky
Alexander Stepanov, a co-owner of Russian energy equipment producer Energomash, has been sentenced to two years imprisonment by the High Court in England for trying to dodge his commitments under a defaulted loan agreement with Kazakhstan’s largest bank BTA.
The bank claim Stepanov, a former general director of Energomash [...]
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By Ivan Anderzhanov
Russia’s Aton Capital is to open offices in London and Almaty a year after the investment banking business was relaunched.
The Moscow-based equity brokerage is looking to expand further in the UK and Kazakhstan having already hired a 50-strong Moscow team , according to a report in Vedomosti.
Evgeny Yuriev, the president and founder of [...]
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By Rustam Botashev, Equity Analyst at UniCredit Securities
Kazakhstan’s Financial Supervisory Agency (FSA) published preliminary banking statistics for 2009.
Our view: The banking sector’s losses for the year totalled KZT 2,837bn ($19.1bn), or KZT 127bn ($0.9bn) excluding the two defaulted banks (BTA Bank and Alliance Bank).
Retail loans declined by 4.8% yoy and corporate loans rose by 7.3% [...]
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By Marcus Williams
Kazakhstan’s Eurasian Bank has bought a Troika Dialog subsidiary bank in Almaty for an undisclosed amount in a bid to expand its business abroad.
Eurasian is controlled by the principal owners of London-listed Kazakh mining company Eurasian Natural Resources Corp.
Troika, which sold a third stake to South Africa’s Standard Bank in March, bought the [...]
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By Jason Corcoran
Kazyna Capital Management, the private equity arm of Kazakhstan’s sovereign wealth fund, is combining with the European Bank for Reconstruction and Development (EBRD) to set up a $300m vehicle to invest in distressed companies.
The fund will focus on financing of companies experiencing problems with repaying their debt. Its main task will be debt [...]
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By Jason Corcoran
Mehmnet Dalman, the former head of investment banking at Germany’s Commerzbank, has been appointed to head a mergers and acquisitions committee at Kazakh miner Eurasian Natural Resources Company.
Dalman, a former hedge fund banker and reputed deal maker, had joined the board of London-listed ENRC in May last year as a non-executive director.
Analsyts said [...]
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By Ivan Anderzhanov in Moscow
Kazakhastan energy producer KazMunaiGaz is to acquire a 33% stake in PetroKazakhstan from its parent company KazMunaiGaz for $100.5mn and the assumption of $831mn of debt.
The board of of KMG received an opinion from Credit Suisse that the consideration to be paid for a stake in PetroKazakhstan is fair from the [...]
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By Ivan Anderzhanov in Moscow
The beleaguered bank BTA anounced today it had signed a memorandum of understanding (MOU) with its creditors’ steering committee, in a major step towards talks to restructure the Kazakh state bank’s $10bn in debt.
The MOU was developed following meetings that took place in London between BTA’s adviser and the steering committee [...]
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