Zan Hub LLP (member of Attorneys Group Zanger)

Today, the most acute issues in the system of communal infrastructure are high wear and tear of networks and unsatisfactory condition of WWTP that provide quality treatment of wastewater. In total, 68 out of 89 cities in the country require new construction, modernisation and reconstruction of WWTP.   Within the Concept of development of housing and communal infrastructure for 2023-2029, it is planned to implement projects on construction and modernistion of WWTP in 68 cities at the expense of own funds of water utilities, budget financing, loans from international financial organizations (IFI) under the state guarantee of the Government, PPP, bonded loans of quasi-public sector entities.   The European Bank for Reconstruction and Development (EBRD) was one of the first IFIs provided a loan to Aqtobe Su-Energy Group JSC for the modernisation of the WWTP in Aktobe to improve the environmental situation in the region.   The project provides for the introduction of modern wastewater treatment technologies and improvement of wastewater quality in accordance with the standards of Kazakhstan and the EU.   On March 15, EBRD signed a Loan Agreement, a tripartite agreement signed with the Ministry of Industry and Construction of the Republic of Kazakhstan and the Akimat of Aktobe Oblast, and a subsidy agreement (Project Agreements).   Zan Hub acted as a legal advisor to the EBRD on legal analysis of the financed market (Bankability), regulation of natural monopolies, subsidization of IFI loans, state guarantee procedures, as well as other issues related to the legislation of the Republic of Kazakhstan. It should be noted that Zan Hub was directly involved in the development and negotiation of Project Agreements with the government authorities and the Borrower. The project was carried out by the firm's partner Madiyar Bekturganov, lawyers Kuanysh Abzhanov, LL.M., Tatyana Veryovkina, Yenlik Muratova. See more: https://lnkd.in/da8krjVg

Memorandum of Cooperation and Interaction was signed between the Agency for Protection and Development of Competition of Kazakhstan (“Antimonopoly Agency”) and the leading Chamber of Kazakhstan lawyers - Kazakhstan Bar Association (“KazBar”) represented by our Antimonopoly Committee. The said Committed is headed by the Managing Partner of Zan Hub (Almaty) - Akylbek Kussainov   The signing ceremony, which took place during the Agency’s annual meeting in Astana on 31 January 2024, was attended by the Chairman of the Antimonopoly Agency Mr. Omarov M.T.   As per Akylbek, signing of the Memorandum at such high level represents an example of the Agency’s openness to the business community and independent experts for joint effort aimed at achievement of important goals set before the Agency, that is to demonopolize market, remove barriers to business, improve investment climate and develop fair competition in Kazakhstan.   In turn, as was noted by the Agency “the purpose of the Memorandum is “to create partnership and long-term cooperation aimed at developing and protecting competition in Kazakhstan. Cooperation shall involve deepening interaction between the parties within working groups, developing and discussing legal acts in order to improve legislation for business, standards, rules and internal control systems (antitrust compliance) in Kazakhstan, enhancing law enforcement practice as well as conducting joint research, professional events, including conferences, round tables, webinars and seminars”.   https://lnkd.in/dJj775mb

On 10 November 2023, trading of shares of KEGOC JSC began on the AIX – the Stock Exchange of the Astana International Financial Center, as part of the SPO (secondary public offering) in accordance with the Comprehensive Privatisation Plan for 2021-2025, approved by the Government of the Republic of Kazakhstan and order of the President of the Republic of Kazakhstan for further denationalisation of the economy, including through privatisation state assets by additional issue. Within the framework of the SPO, KEGOC offered 15,294,118 ordinary shares, while the share of Samruk-Kazyna JSC (major shareholder of KEGOC), will amount to at least 85 percent of the total number of shares of the company. The price for one ordinary share is 1,482 tenge. Zan Hub acted as legal advisor to the Issuer on AIFC law and the legislation of the Republic of Kazakhstan, as well as KEGOC's process agent in accordance with the requirements of the AIX rules, and provided legal advice on all aspects of Kazakhstani legislation and AIFC law related to SPO. The project was carried out by the firm partners Madiyar Bekturganov, Aituar Madin and associates Tatyana Veryovkina, Yenlik Muratova, Kuanysh Abzhanov, LL.M.