Joint Stock Company Halyk Savings Bank Of Kazakhstan (LSE:HSBK) signed non-binding memorandum of understanding to acquire 96.81% stake JSC Kazkommertsbank (LSE:KKB) from the Government of the Republic of Kazakhstan, National Bank of the Republic of Kazakhstan, Samruk-Kazyna National Welfare Fund JSC, BTA Bank JSC and Kenges Rakishev on March 2, 2017. As of June 2, 2017, Halyk Savings Bank signed a framework agreement to acquire a majority stake JSC Kazkommertsbank. As of June 15, 2017, Joint Stock Company Halyk Savings Bank Of Kazakhstan (LSE:HSBK) signed a sale and purchase agreement to acquire a stake in JSC Kazkommertsbank (LSE:KKB) from Kenges Rakishev and Samruk-Kazyna National Welfare Fund for KZT 1 each. Pursuant to the transaction, Halyk will hold a 96.8% stake in Kazkommertsbank. JSC Kazkommertsbank intends to delist its Global Depository Receipts from London Stock Echange which is subject to shareholders approval in general meeting to be held on June 30, 2017. The deal is subject to further actions by the parties and satisfaction of certain conditions precedent as set out in the memorandum of understanding, receipt of regulatory approvals and acquisition by JSC Problem Loans Fund of certain assets and claims from BTA Bank. The Management Board of the National Bank of Kazakhstan gave its consent for Halyk Bank Kazakhstan to acquire Kazkommertsbank's holding on June 13, 2017. The transaction is expected to close during 2017. Hugo Stolkin, Ilya Andalashvili, Ben Carroll, Paulette Mastin, Simon Few, Adam Rogowski, Adrian Newell, Evgeniya Rakhmanina, Mikhail Fufaev, Olga Fedosova, Irina Zolotukhina, Neil Boyd, Sergey Shiposha, Andrey Arzybov, Nikolay Altukhov, Ana Baidoukova, Anna Tiunova, Vladislav Spirin, Anthemis Economou, Simon Cahill, Anthony Antioch, Guzel Khakimova, Alexander Bliznyakov, Daria Yurenko, Polina Klipova and Rebecca Mulder of Linklaters LLC acted as legal advisor to Halyk Savings Bank of Kazakhstan JSC. J.P. Morgan acted as financial advisor to JSC Kazkommertsbank. Joint Stock Company Halyk Savings Bank Of Kazakhstan (LSE:HSBK) completed the acquisition of 96.81% stake in SC Kazkommertsbank (LSE:KKB) from the Government of the Republic of Kazakhstan, National Bank of the Republic of Kazakhstan, Samruk-Kazyna National Welfare Fund JSC, BTA Bank JSC and Kenges Rakishev on July 5, 2017.