Turlov Is Investing $300 Million in the Agribusiness Sector
A businessman has reached an agreement to purchase a controlling stake in the “Kazakhstan Grain Consortium” from Bakhtiyar Ospanov
Timur Turlov's investment company, Turlov Private Holding Ltd., has reached a preliminary agreement to acquire a 51% stake in the parent company of the agricultural holding "Grain Consortium of Kazakhstan." Photo: Instagram/Timur Turlov
Timur Turlov’s investment company, Turlov Private Holding Ltd., has reached a preliminary agreement to acquire a 51% stake in Ak Zhaiyk Capital, the parent company of the agricultural holding “Grain Consortium of Kazakhstan,” according to Freedom Holding Corp., which was founded by Turlov.
Turlov is purchasing the stake from Kazakh businessman Bakhtiyar Ospanov. The transaction is valued at $300 million. The remaining 49% will remain with Kokzhiyek Fund LP, which is controlled by entities affiliated with the “Baiterek” State Fund.
Timur Turlov will personally pay for the asset using his own shares in the holding company, while Freedom Holding, the publicly traded company, will not assume any debt. The payment will take place in two stages: the seller will receive $270 million worth of securities by the end of 2026, and the remaining $30 million in 2027.
The transferred shares will serve only as an interim payment instrument. The terms of the deal guarantee that Bakhtiyar Ospanov will receive $300 million in cash after these securities are sold on the market. If the actual proceeds from the sale of the shares turn out to be less than the stated amount, Turlov or his private holding company will make up the difference to the seller. For his part, Ospanov must settle a portion of the company’s current non-public debts before the transaction is finally closed.
The parties are expected to sign the framework agreement on November 13. The transaction is scheduled to be fully closed by April 10, 2027. To do so, the parties must fulfill a number of corporate requirements and obtain approval from the Agency for the Protection and Development of Competition.
Bakhtiyar Ospanov, the majority owner of “Kazakhstan Grain Consortium” LLP, ranks 75th with a net worth of $95 million on Forbes.kz’s list of Kazakhstan’s richest businesspeople. The Grain Consortium comprises 22 agricultural enterprises, six grain elevators, two milling complexes, as well as trading, service, and other entities. Its core business is focused on crop production.
This article was AI-translated and verified by a human editor
