Qatar's Lesha Bank acquires Kazakhstan's Bereke Bank for $146.6 mln

ASTANA. May 20 (Interfax) - Qatar's Lesha Bank LLC has acquired Kazakhstan's Bereke Bank, a former subsidiary of Russia's Sberbank , the press service of the Qatari financial institution said.

"A sale and purchase agreement was been concluded between Lesha Bank and JSC Baiterek National Management Holding on March 31, 2024, to purchase the entire authorized capital of Bereke Bank in the Republic of Kazakhstan for 65 billion tenge [$146.6 million at the current exchange rate] [... ]. The agreement is subject to preconditions that the parties must fulfill to complete the sale and purchase transaction, including a precondition for the agreement to enter into force by obtaining necessary approval from the Baiterek holding," Lesha Bank said in a press release that confirms the approval.