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Article: PPF Group co-owner acquires small Kazakh bank.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- September 30, 2008
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PPF Group co-owner acquires small Kazakh bank
ALMATY. Sept 30 (Interfax) - PPF Group N.V. co-owner Jiri Smejc has acquired a 90.01% stake in Kazakhstan's Almaty International Bank (MBA), the bank said in a statement.
PPF's subsidiary, Netherlands-based Home Credit B.V., acquired the remaining 9.99% in the bank.
"All necessary authorization for implementing the transaction has been received from the appropriate Kazakh financial authorities," the statement.
The statement did not provide further information about the transaction's details.
According to the Kazakh bank's own materials, as Smejc is a co-owner in PPF Group, close ...