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Report: Kazakh regulator approves Kazkommertsbank takeover of majority Belarus bank stake

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Report: Kazakh regulator approves Kazkommertsbank takeover of majority Belarus bank stake

TheCommittee on Regulation of Natural Monopolies and Protection of Competitionunder the Ministry of National Economy of the Republic of Kazakhstan allowedJSC Kazkommertsbankto acquire a more than 50% stake in CJSC BTA Bank, Kapital.kz reported July 22.

Theshares of the Belarusian bank will be transferred to Kazkommertsbank as part ofa debt repayment on a credit line.

Thedeal should be completed within one year from receiving a positive decision bythe antimonopoly authority, the news report noted.