Kazakhstan

About

Our on-the-ground team has been representing clients doing business in Kazakhstan since 1992. As our clients take advantage of the advances and investment opportunities taking place in Kazakhstan, which has the largest economy in the Central Asian region, they rely on our global footprint and local experience to realize their business objectives. Many of our deals are acknowledged "firsts" in the market, ranging from early privatization to major foreign investment, and including the entry of Kazakhstan companies into international markets.

Recent innovative examples include the representation of KazMunaiGas Exploration and Production JSC in relation to its buyback offer for shares and GDRs, which may become the first example of a company self-nationalising and the development of the new Subsoil Use Code, a key legislation in a country rich in oil, gas and other minerals. Other "firsts" include work on Constitutional Law of the Republic of Kazakhstan "On the International Financial Centre Astana" (AIFC) and establishment of a new Astana International Stock Exchange within the AIFC territory – AIX, including the registration of the first foreign company there – China Development Bank.

For foreign investors operating in this vibrant business environment, we provide advice on areas including energy, oil and gas, minerals, banking, capital markets and project finance transactions. One of the largest and successful projects for foreign investors was the completion of 2-year bid process for construction and operation of the highway "Big Almaty Ring Road (BAKAD)", the largest infrastructure project based on PPP, in favour of our clients.

To convey the best solutions in clients' interests our lawyers work in close cooperation with other offices and key teams in Moscow, London and New York in line with offices in China, combining the Firm's global cross-practice and industry-specific experience with deep knowledge of local law.

 

AWARDS & RECOGNITION

Band 1 ranking for Corporate and Finance
Chambers and Partners, Global 2019

Band 2 ranking for Energy and Natural Resources
Chambers and Partners, Global 2019

Tier 1 ranking for Financial and Corporate
Tier 2 ranking for Energy and Infrastructure
IFLR1000 2019

One particular source highlights "quick and clear response to questions and issues," calling the firm "an experienced, reliable and highly professional partner."
Chambers and Partners, Global 2018

"They are international and they are responsive. We like their approach and their experience seems to be the widest in the region. They know how to solve every problem, which is great, and they can answer every question we come to them with."
Chambers Asia-Pacific 2017

Tier 1 ranking for Banking, Finance and Capital Markets
Tier 2 ranking for Commercial, Corporate and M&A
Tier 3 ranking for Energy and Natural Resources
The Legal 500 2018

 

Experience

Representation of the leading national telecommunication company
Representation of Kazakhtelecom JSC, Kazakhstan's state-controlled telecommunications company, on the acquisition of a 75 percent stake in Kcell JSC, the leading mobile operator in Kazakhstan which is listed on the London Stock Exchange (LSE) and the Kazakhstan Stock Exchange (KASE).

Private investment of Resource Capital Fund VII L.P.
Representation of Resource Capital Fund VII L.P., a US-based private equity fund, in a 35 percent indirect equity acquisition of RG Gold, a gold mining company based in Kazakhstan.

IPO of the world's largest producer of uranium
Representation of a syndicate of banks including Credit Suisse and J.P. Morgan, as Joint Global Coordinators and Joint Bookrunners, and China International Capital Corporation, Halyk Finance and Mizuho International plc, as Joint Bookrunners, and Numis Securities, as Co-Manager, on the IPO of JSC NAC Kazatomprom, the world's largest producer of uranium, on newly established stock exchange - AIX and LSE.

Buyback offer of KazMunaiGas Exploration and Production 
Representation of KazMunaiGas Exploration and Production JSC in relation to its buyback offer for shares and GDRs. This unique project required an innovative listing of the GDRs on KASE to permit a repurchase of GDRs in a tax efficient manner for holders and may become the first example of a company self-nationalising.

Representation of the National Bank of the Republic of Kazakhstan in regulation of banking sector's financial stability
Representation of the National Bank of the Republic of Kazakhstan in relation to the development and implementation of the Program to improve the financial stability of the banking sector in terms of capitalization of large banks of Kazakhstan by using of subordinated notes with the mechanism of their conversion into bank shares in order to ensure the implementation of measures to strengthen the financial stability of the participating bank.

Implementation of Justified Judgement 
Representation of the National Bank of the Republic of Kazakhstan in relation to the preparation of the law amendments enshrining the concept of “justified judgement” into the Kazakhstan banking legislation.

Merger of Halyk Bank with Kazkommertsbank
Representation of the Government and the National Bank of the Republic of Kazakhstan in relation to the structuring of measures of the state support and obligations of interested parties including acquisition of the shares of Kazkommertsbank JSC, one of the largest banks in Kazakhstan, by another large bank, Halyk Bank JSC.

BAKAD Project 
Acting as a legal counsel to the consortium of international construction companies in connection with the construction and operation of the Big Almaty Ring Motor Road (BAKAD), the ring road around Almaty. The BAKAD project is one of the largest non-oil infrastructure public-private partnership projects of the Kazakhstan Government financed by the private sector.

Sovereign Bond of Sukuk al-Idjarah
Representation of the Ministry of Finance of the Republic of Kazakhstan in relation to the drafting the legislation model for Islamic Sovereign Bond Issuance of Sukuk al-Idjarah and the relevant amendments to the existing legislation.

Astana International Financial Centre
Representation of the National Bank of the Republic of Kazakhstan in connection with the developing of the model, drafting the Constitutional Law “On the Astana International Financial Centre” and negotiations with the state officials and establishment of a new Astana International Stock Exchange within the AIFC territory – AIX.

Award winning project finance deal
Representation of the project company and the sponsors in connection with the development and US$4 billion financing of a petrochemical facility in Atyrau, Kazakhstan, including financing from K-Exim and K-Sure.

The deal was recognized by Project Finance Awards 2015 (CEE) as the "Best Chemical Deal of the Year".

This deal was also nominated for "Korea Deal of the Year" in 2013 by ALB Hong Kong Law Awards.

US$2.5 billion gas pipeline construction financing
Representation of Beineu - Shymkent Gas Pipeline LLP in relation to the financing of the construction of a gas pipeline in Kazakhstan by China Development Bank.

Sale of one of the largest gold deposits in Kazakhstan
Representation of Kazzinc LLP, a subsidiary of Glencore plc, on its sale of Orion Minerals LLP, a company which owns the Komarovskoye gold deposit in the Republic of Kazakhstan, to Polymetal International plc. The total consideration payable to Orion Minerals at completion was US$100 million in cash.