OREANDA-NEWS. Kazkommertsbank JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release:

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Share Purchase Agreement (“SPA”) has been signed between Joint Stock Company Sovereign Wealth Fund «Samruk-Kazyna» (“SK”) and Joint Stock Company “Kazkommertsbank” (“KKB”) regarding the purchase of 224,353,416.49 shares in Şekerbank T.A.Ş. by KKB which represents 19,37% of the share capital of Şekerbank T.A.Ş.d. In accordance with the SPA, the sale process (transfer of shares and payment for shares) will be affected pursuant to the execution of necessary conditions precedent, including compliance with the conditions of the current Shareholders Agreement signed with the other majority shareholder of the Bank - Şekerbank T.A.Ş. Personeli Munzam Sosyal Güvenlik ve Yardımlaşma Sandığı Vakfı (SEMVAK/Şekerbank T.A.Ş. Voluntary Pension Fund), necessary boards resolutions and permissions to be obtained from relevant Government Authorities. The sale price will be determined at the date of share transfer.

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