Kookmin Bank sold its stake in BankCenterCredit

Kookmin Bank possessing 41.93% of the Kazakh bank’s shares has sold them fully to Mr. Bakhytbek Baisseitov, JSC Tsesna Bank and JSC Tsesna Financial Holding, a press release reads. 

Recall that Kookmin Bank acquired 23% of BCC shares in 2008 and in 2010 increased it to 42%. 30% of them were ordinary shares and 10% were privileged ones. According to Korean mass media, Kookmin paid KRW939.2bln for this deal.

In May 2013, CEO of BCC Vladislav Lee told mass media that the issue of buy-out of BCC by Kookmin Bank Co Ltd might be solved by year 2017.

Another stakeholder of BCC – International  Finance Corporation – which owned 10% of the Kazakh bank’s shares sold them to Mr. Bakhytbek Baisseitov  on March 15.

As a result, Bakhytbek Baisseitov  owns 44.5% of the total volume of voting shares in BCC.