The European Bank for Reconstruction and Development (EBRD) has become a minority shareholder of Air Astana, the national air carrier of Kazakhstan. This is reported on the bank's website.
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What is known
The acquisition occurred as part of the airline's initial public offering (IPO). The bank became the owner of a 5% stake for $42 million.
The Kazakh airline held an IPO to raise money to expand and renew the fleet, build aircraft maintenance facilities and purchase a flight simulator.
Air Astana plans to expand by 2029 its fleet from 49 aircraft to 80.
The main shareholders of the group are the Kazakh state sovereign wealth fund Samruk-Kazina and BAE Systems (Kazakhstan) Limited, a subsidiary of the British corporation BAE Systems plc.
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