July 2025 – Kinstellar has recently advised JSC Halyk Bank on its USD 237 million strategic partnership with Uzbekistan's leading fintech platform, Click – a landmark transaction reflecting the growing convergence of banking and digital services in Central Asia.
Under the deal, Halyk acquires a 49% stake in Click for USD 176.4 million, while Click's shareholders take a 49% stake in Halyk's Uzbek subsidiary, Tenge Bank, for USD 60.76 million. Representing the largest private sector transaction in Uzbekistan to date, the deal features an innovative and balanced structure that enables both parties to remain independent while forming a powerful alliance in Uzbekistan's rapidly evolving digital finance landscape. The partnership brings together two market leaders with complementary strengths, serving over 32 million customers across the region and aiming to accelerate product innovation in retail and SME banking.
The transaction is subject to regulatory approvals in Kazakhstan and Uzbekistan.
Kinstellar provided integrated legal support across three jurisdictions, with lead Partner Kuanysh Shekerbekov supported by Associates Zhandaulet Sholanov and Alfiya Sharipova (Kazakhstan), Counsel Kamilla Khamraeva and Senior Associate Jakhongir Azatov (Uzbekistan), and Partner Hugh Owen (English law).