Maxim Telemtayev

Partner, Astana


“excellent negotiating skills”
“he can always see the right approach for the client”
Maxim “goes the extra mile to ensure that he meets deadlines.”
Ranked Band 1 for Corporate & Finance, Chambers Global 2020


With more than a two-decade's experience in sectors as diverse as energy, mining, power generation and banking, Maxim brings insight and know-how to major local and international clients.

Maxim works at the Firm's office in Astana, but also supports companies with their corporate finance and commercial transactions across Central Asia.

He delivers guidance and rigour to large and challenging public and private acquisitions, reorganisations and consolidations and applies his understanding to the transactional documentation and negotiations, legal due diligence and financing considerations of clients' deals.

His clients benefit from his hands-on involvement in their PPP projects as well as in all matters relating to their mergers and acquisitions.

Additionally, Maxim supports the Kazakhstan government and industry bodies in developing relevant foreign investment, natural resources and other legislation.

Bars and Courts
Adilet Higher Law School




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.

Kazakhtelecom's acquisition of Kcell 
Representation of Kazakhtelecom JSC, Kazakhstan's state-controlled leading 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.

M&A transactions of the largest polymetall producer in Kazakhstan 
Representation of Kazzinc Limited, a subsidiary of Glencore plc, on its sale of Orion Minerals LLP, which owns the Komarovskoye gold deposit in the Republic of Kazakhstan, to Polymetal International plc. The total consideration payable to Orion Minerals was US$100 million in cash.

Representation of Kazzinc Limited, the largest polymetals producer in Kazakhstan, on its acquisition of Zhairem GOK JSC, a large producer of manganese, ferromagnesian and barite concentrates.

Astana International Financial Centre
Representation in connection with the developing of the model, drafting the Constitutional Law "On the Astana International Financial Centre" and further establishment of a new Astana International Stock Exchange within the AIFC territory – AIX.

Petrochemical project in West Kazakhstan 
Representation of Kazakhstan Petrochemical Industries (KPI) on the development, construction, and financing of a $2 billion petrochemical complex to be located in the Atyrau region of Kazakhstan. The financing for the project was provided by China Development Bank Corporation Xinjiang Branch.

New Subsoil Use Code of Kazakstan 
Since 2013 leading the W&C team, who has been at the forefront of the subsoil use legislation improvement being a part of the working groups under the auspices of Ministry of Investments and Development and Ministry of Energy of the Republic of Kazakhstan and KazEnergy Association. Work included amendments to the Subsoil Use Law and drafting New Subsoil Use Code of the Republic of Kazakhstan.

Global Tailings Review on First Ever Global Industry Standard on Tailings Management
Representation of the Global Tailings Review (GTR) on the first ever Global Industry Standard on Tailings Management (the Standard), established to implement robust requirements for the safer management of tailings facilities in the mining industry.

Speaking Engagements

"Investing in the Oil and Gas Industry: Legal Risks and Dispute Resolution Issues", October 2009: Kazakhstan International Oil and Gas Conference


Legal Aspects of Public Private Partnership projects in Kazakhstan, Oil & Gas Journal, March 2010

Awards and Recognition

Ranked Band 1 for Corporate & Finance
Ranked Band 2 for Energy and Natural Resources
Chambers Global 2020

Highly regarded for M&A, Banking, Energy and Infrastrcuture, Restructuring and Insolvency and Project Finance in the IFLR1000 

Recommended for M&A, Energy and Mining by Who’s Who Legal 2020

Ranked Tier 1 for Kazakhstan legal market 
The Legal500 2012 – 2017