Baiterek and KazAgro holdings signed a merger agreement

Aidar Arifkhanov and Yerbol Karashukeev, the heads of the Baiterek and KazAgro holdings respectively, signed a deed of transfer and a merger agreement.

The deed of transfer is scheduled to be approved on March 15, 2021.

– In 2021, the year of the 30th anniversary of Kazakhstan's Independence, Baiterek Holding will continue to work as a powerful state holding endowed with new functions. We are facing great challenges. The number of government programs that our holding is engaged in is growing. The state program for the agro-industrial complex development is one of the most important ones. Our task is to make the merging as easy as possible so that it does not negatively affect our farmers. All KazAgro’s tasks, including spring fieldwork, and providing support for animal husbandry and crop production, are now ours to carry out and they will not be left without attention. We will make every effort to accomplish these tasks, – said Aidar Arifkhanov.

It should be pointed out that Baiterek Holding is trying to create a joint development institution by merging with KazAgro Holding. It is done to execute Paragraph 52 of the National Plan for the implementation of the State of the Union Message “Kazakhstan in a new reality: time for action” dated September 1, 2020. It is also planned to reduce the number of portfolio companies from 14 to 7 and to change the number of full-time employees.

Currently, all the necessary corporate decisions on reorganization have been made; and the inventory of KazAgro Holding’s assets has been completed.