12.11.2026, 00:31
Timur Turlov Plans to Invest $300 Million in Kazakhstan's Agribusiness Sector
Investment company Turlov Private Holding intends to acquire at least 51% of the parent company of the Grain Consortium of Kazakhstan, which comprises 22 agricultural enterprises and six grain elevators
Timur Turlov, founder and head of Freedom Holding Corp., is considering an investment in Kazakhstan's agricultural sector. According to a notification submitted by the financial holding company to a US regulator, on November 5, 2026, Turlov and his privately owned investment company, Turlov Private Holding (TPH), signed a non-binding agreement outlining the proposed transaction with Bakhtiyar Ospanov, the principal owner of Grain Consortium of Kazakhstan LLP. This was reported by Forbes.kz.
The proposed transaction is valued at $300 million. Under the arrangements reached, Turlov Private Holding intends to acquire at least a 51% stake in Ak Zhaiyk Capital, the parent company of the Grain Consortium of Kazakhstan. The remaining 49% stake will be retained by Kokzhiyek Fund LP, which is part of Qazaqstan Investment within the national holding company Baiterek.
The Heads of Terms signed by the parties is not legally binding. Completion of the transaction will be possible only after comprehensive due diligence on the assets and the signing of definitive agreements.
Until the transaction is completed, Bakhtiyar Ospanov will continue to oversee the agricultural holding company's day-to-day operations. However, key strategic decisions will require prior approval from Turlov Private Holding. These include budget approvals, preparations for and implementation of the sowing campaign, including determining the crop planting structure, purchasing seeds, fertilizers, and fuel and lubricants, as well as financing field operations. Senior management appointments, capital investments, and the raising of borrowed funds will also be subject to approval.
The Grain Consortium of Kazakhstan comprises 22 agricultural enterprises and six grain elevators located in the Akmola and North Kazakhstan regions. The agricultural holding company has a total land bank of 909,900 hectares, of which 350,000 hectares are used for crop cultivation. Its annual agricultural production exceeds 500,000 tonnes.
Ak Zhaiyk Capital currently owns 99% of the Grain Consortium of Kazakhstan. The remaining 1% is directly owned by Bakhtiyar Ospanov. In 2026, the entrepreneur ranked 75th among Kazakhstan's wealthiest businesspeople, with an estimated net worth of $95 million. In addition to his agricultural interests, he holds stakes in companies operating in the construction and metallurgical industries.
The prospective buyer, Turlov Private Holding, is Timur Turlov's private investment company, operating independently of Freedom Holding Corp. Turlov's net worth is estimated at $5.2 billion. He ranks sixth among Kazakhstan's wealthiest and most influential businesspeople.
