March 2024 – Kinstellar is thrilled to announce our firm's leading role in facilitating a significant transaction whereby the European Bank for Reconstruction and Development (EBRD) has made an investment in Araltuz, a leading Kazakhstan-based producer of table and low-grade technical salt in Central Asia.
Led by our outstanding team, including Joel Benjamin, Managing Partner for Central Asia, Kuanysh Shekerbekov, Counsel in Kazakhstan, and Bianka Kovács, Associate in our Budapest office, we provided expert counsel on this ground-breaking transaction governed by English law. Our collaborative effort, supported by Almas Zhaiylgan, Counsel in Kazakhstan, and other colleagues, demonstrated our firm's cross-border capabilities and deep understanding of international transactions.
The transaction involved EBRD extending a convertible loan of up to KZT 5.5 billion (EUR 11 million) to Araltuz, designated for the company's investment program and the construction of new manufacturing facilities to launch domestic production of vacuum salt. This strategic move aligns with EBRD's commitment to fostering private sector competitiveness and sustainable development in Kazakhstan.
We take pride in our ability to navigate complex legal landscapes seamlessly, leveraging our expertise in local law and English law to deliver tailored solutions that meet the unique needs of our clients. This transaction underscores our dedication to driving impactful outcomes and contributing to the sustainable growth of businesses in Central Asia and beyond.
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