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 2020

Band 3 ranking for Energy and Natural Resources
Chambers and Partners, Global 2020

"They work constructively to find solutions and they also have a broad network, so they were able to provide context beyond the negotiations."

"They clearly have enough resources on the ground to provide quality support and offer a combination of local knowledge and international best practice"

"They have an excellent understanding of the cultural approach and requirements of both foreign and local companies, which is invaluable in negotiations."
Chambers and Partners, Asia-Pacific 2020

Tier 1 ranking for Banking, finance and capital markets
Tier 2 ranking for Commercial, corporate and M&A
Tier 2 ranking for Energy and natural resources
The Legal 500 2020

Tier 1 ranking for Financial and Corporate
Tier 2 ranking for Project Development
IFLR1000 2020

Experience

The First and Large Road PPP in Kazakhstan
Representation of an international consortium of sponsors, Alsim Alarko Sanayi Tesisleri ve Ticaret A.Ş, Makyol İnşaat Sanayi Turizm ve Ticaret A.Ş., SK Engineering & Construction Co., Ltd. and Korea Expressway Corporation on the development and financing of the US$750 million Big Almaty Ring Motor Road (BAKAD). The BAKAD project is one of the largest non-oil infrastructure public-private partnership projects of the Kazakhstan Government financed by the private sector.

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.

US$10 billion MTN Programme of the Republic of Kazakhstan
Representation of Citigroup Global Markets Limited, J.P. Morgan Securities plc and HSBC Bank plc as Lead Managers on the establishment of the Republic of Kazakhstan's US$10 billion Medium Term Note (MTN) Programme and a subsequent issue of aggregate US$4 billion Notes due 2024 and due 2044; further update of the MTN Programme and issuance thereunder of €525 million 1.55% Notes due 2023 and €525 million 2.375% Notes due 2028; a series of offerings in indicative aggregate principal amount of US$1.2 billion. 

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.

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.

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. 

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.