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Kazakh To Sell Alliance Bank Stake To EBRD

Kazakhstan is planning to sell a stake in Alliance Bank to the European Bank for Reconstruction and Development.

Kazakhstan is planning to sell a stake in Alliance Bank to the European Bank for Reconstruction and Development (EBRD), Bloomberg reports. The size of the stake and the price has not been disclosed.

Alliance Bank had restructured $4.5 billion of debt in March 2010, reducing the amount owed to about $1 billion. The state-owned National Wellbeing Fund, Samruk-Kazyna, owns a 67% stake in Alliance.

Click here for the story from Bloomberg.

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