AITAS Holding announces the completion of the share buy-back transaction from minority shareholders of BAITEREK VENTURE FUND JSC and AOM Rail B.V. represented by the General Partner BV Management LLP (subsidiaries of the Qazaqstan Investment Corporation JSC (Subsidiaries of the Baiterek NMH JSC)). In accordance with the terms of the option agreements signed in 2019 for a term of five years, the AITAS Holding has implemented the stipulated buy-back mechanism, ensuring a fair return for investors. This step was the logical end of the investment cycle and is aimed at strengthening the financial stability of the Holding Company.
Facts about the transaction:
“This cooperation is an example of successful collaboration with partners. During the period of cooperation, a total of about US 320 million was invested in the agricultural sector of the country, I think the numbers say it all”, – noted Serik Tolukpayev, investor, entrepreneur, founder of the AITAS Holding Company.
Development during the period of cooperation
A strategic partnership with investors made it possible to attract loan capital on acceptable terms. Development Bank of Kazakhstan JSC, Halyk Bank of Kazakhstan JSC and ForteBank JSC acted as partners in the projects, which allowed AITAS Holding's production capacity to be significantly increased in a short period of time, which contributed to the substitution of poultry meat imports with domestically produced products, strengthening the country's food security:
In 2024, the AITAS Holding's share of the total poultry meat consumption in the country was 26% and 39% of local production.
“It is with great respect and gratitude that we conclude a period of cooperation It is with great respect and gratitude that we conclude a period of cooperation It is with great respect and gratitude that we conclude a period of cooperation It is with great respect and gratitude that we conclude a period of cooperation. Partners successfully came out with the planned returns that were set out in the agreements at the time of capital entry. We express our gratitude to Qazaqstan Investment Corporation, as well as its subsidiary organizations BVF and BV Management for their support, understanding, ability to take responsibility and make difficult decisions necessary in the period of aggressive growth. Holding's business case is an example for the real sector of the economy of how a Kazakhstani project can work productively with Kazakhstani financial institutions in not the simplest industry”, – added Serik Tolukpayev.
«We were pleased to announce the successful exit from AITAS Holding investment project that enabled us to significantly increase our production capacity, create and support more than two and a half thousand jobs and make a significant contribution to food security in Kazakhstan. One of the main objectives of QIC is to develop non-resource sectors of the country's economy through private equity tool. Project companies co-operating with QIC receive not only financing, but also expertise, risk assessment and the opportunity to attract experienced staff. I am confident that this case will be an excellent example for further successful cooperation between QIC and business leaders who are ready to develop their business, create jobs and contribute to the development of the country's economy» - said Yerbolat Zholat, Chairman of the Management Board of Qazaqstan Investment Corporation JSC.
We can definitely talk about positive multiplicative impact on the economy as well, such as job creation, tax payments to the budget, development of infrastructure and related industries of small and medium-sized businesses. And, returning to our mission, AITAS Holding will continue to provide the population with domestic quality products.
Background information:
AITAS – the largest agro-industrial holding in Kazakhstan, which includes more than 20 companies: Ust-Kamenogorsk and Makinskaya poultry farms with the “Kus&Vkus” brand; Nauryz Agro ltd poultry farm - Almaty poultry pedigree breeding unit; Aytas-MP - production of meat, delicatessen, sausage products “AMR”; Aitas Agro business line, which operates several crop farms in the East and North Kazakhstan regions and the Aitas Foundation corporate fund.
Qazaqstan Investment Corporation JSC is a fund of private equity funds established in 2007, whose main mission is to develop private equity and venture financing infrastructure in Kazakhstan in order to promote sustainable economic development of Kazakhstan. It is a subsidiary of NMH Baiterek JSC. See additional information on the website https://qic.kz/ru.
«Baiterek Venture Fund» JSC is a private equity fund established in 2014. It is part of the «Baiterek» National Managing Holding and is a 100% subsidiary of «Qazaqstan Investment Corporation» JSC. The Fund makes direct investments in promising companies in non-resource sectors of Kazakhstan's economy at the startup, growth, and maturity stages. The Fund actively operates in the private equity market, implementing projects in partnership with internationally recognized financial institutions such as the EBRD (European Bank for Reconstruction and Development), ADB (Asian Development Bank), and others. Since its registration in 2014, the Fund has invested in 29 projects and successfully exited from 7. The current investment portfolio of the Fund includes 21 companies across various industries and sectors, such as manufacturing and processing, transport and logistics, services, renewable energy (RES), and the agro-industrial complex (AIC).
«BV Management» LLP was established in 2014 as a wholly owned subsidiary of «Qazaqstan Investment Corporation» JSC. The Company is a private equity management company and serves as the General Partner of DBK Equity Fund CV and KCM Sustainable Development Fund I C.V. The Company provides financial instruments to support companies operating in the priority economic sectors of Kazakhstan.
