October 2024 – Kinstellar has advised Baiterek National Managing Holding JSC on the KZT 65 billion (approx. US$135 million) sale of Bereke Bank JSC to Lesha Bank LLC, the first independent Shari'a-compliant Bank authorized by the Qatar Financial Center Regulatory Authority (QFCRA), and a listed entity on the Qatar Stock Exchange (QSE: QFBQ). This significant transaction aligns with the President Kassym-Jomart Tokayev’s drive for foreign investment in Kazakhstan's financial sector.
Our involvement highlights our ability to navigate complex legal frameworks, particularly when dealing with government entities. This deal continues to demonstrate Kinstellar’s strong M&A capabilities on transactions involving Kazakhstan and English law and confirmed our leading role in the banking sector in Kazakhstan.
Our legal team was led by Pavel Kornilov, and included Managing Partner, Joel Benjamin, with support from Senior Associate Bianka Kovacs and Legal Assistants Kamila Serik and Usen Tastanbekov.